The Commerce Commission said yesterday it would start High Court proceedings against NZ Fintech Ltd (trading as Moola), alleging it’s breached the lender responsibility principles contained in the Credit Contracts & Consumer Finance Act.
ANZ Bank NZ Ltd introduced a new factor to its lending policy today – a discount for lifting the construction standard.
High Court judge Kit Toogood sentenced financier Paul Bublitz on Wednesday to concurrent jail terms of 3 years & 2 months on 6 charges related to using finance companies to try to save other businesses during the global financial crisis.
The Commerce Commission said yesterday it had filed High Court proceedings against Tauranga company Linsa Finance Ltd, seeking orders that it return costs of borrowing totalling about $680,000 for over 1700 loan contracts.
4 credit unions voted last week to combine forces, trading as NZCU Baywide. The members of a fifth, NZCU Steelsands, decided to stay independent.
Reserve Bank governor Adrian Orr said today the bank would ease its loan:value ratio (LVR) restrictions on banks’ new mortgage loans from 1 January.