The Commerce Commission has settled with Linsa Finance Limited. The Commission has discontinued its High Court proceeding and Linsa Finance has agreed to make payments totalling $350,000 to current and former affected borrowers in relation to 1,721 loan contracts. Linsa Finance failed to disclose all the key information required under the CCCFA.
PartiesLinsa Finance Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act s 17