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Published on 20 December 2012
The Commerce Commission’s $60 million settlement in the Credit SaILS investigation, announced this week, is a reward for investors’ patience. We hope that investors feel that the wait has been worthwhile. Commission Chair Dr Mark Berry shares his observations of the case which set a new record for a Fair Trading Act settlement.
Published on 23 November 2012
Increasing numbers of complaints relating to ‘hardship’, and a decline in complaints about bank credit cards are just two of the trends we’ve noted following a review of complaints under the Credit Contracts and Consumer Finance Act (CCCF Act). The analysis was done to inform the Commission’s future education and enforcement efforts in relation to the CCCF Act.