Lender website review report

The Commission has released a report detailing the findings of its review of 215 selected lenders’ websites for compliance with disclosure rules.

The review looked at whether this group of lenders in New Zealand were likely to be complying with their responsibilities under the Credit Contracts and Consumer Finance Act (CCCF Act) to display key information prominently and clearly on their websites such as contract details, interest rates and fees. It was also intended to gather information about lenders’ published interest rates and fees to inform the Commission’s programme of credit work.