The Commission has filed civil proceedings in the High Court against Eagle M.A.N Group Limited (Eagle M.A.N) alleging breaches of the Credit Contracts and Consumer Finance Act 2003 in relation to high-cost lending and disclosure rules. This enforcement action came out of the Commission’s monitoring project throughout 2021-2022 which focused on lenders offering high-cost consumer loans, i.e. loans with an interest rate greater than 50% pa. Eagle M.A.N is a small to medium sized lending business providing lending to consumers in Christchurch.
PartiesEagle M.A.N Group Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act ss 17, 45E, 45G, 107A
