Moola has to pay back customers after a Commerce Commission investigation into historical fees

The Commission found the payday lender likely charged unreasonable credit and default fees between 2016 and 2017.

The company overcharged establishment fees by up to 345-dollars.

Commission chair Anna Rawlings says the lender agreed to a 2.8 million dollar settlement -- and will repay overcharged customers.

She says customers may receive a refund, sums may be written off and others won't be charged other fees.