The Commission has accepted court enforceable undertakings from Westpac to resolve its investigation under section 9C of the Credit Contracts and Consumer Finance Act 2003. The investigation related to issues that Westpac identified in implementing its loan repayment deferral scheme for Covid-19 impacted borrowers.
PartiesWestpac New Zealand Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act ss 9C, 9C(2)(a)(iii), 9C(3)(c)