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11 Apr 2021 10:21
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  •   Home > News > Business

    Relief Moola will be refunding borrowers about 2.8 million dollars

    Relief Moola will be refunding borrowers about 2.8 million dollars


    The online lender's agreed to the settlement with the Commerce Commission, after acknowledging it charged unreasonable fees between 2016 and 2017.

    It included establishment fees of up to 350 dollars, that should have been no more than five-dollars-48.

    Christchurch Budget Service placed the complaint on behalf of a client.

    Manager David Marra says lenders need to know not following the law has consequences.

    He says the expectation is they should follow it not devise ways of circumventing it, and that people who are vulnerable are protected.

    © 2021 Newstalk ZB, NZCity


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