Antitrust regulator cuts deal with Bluestone over early repayment fees

Sun, 23 Dec 2012

By Paul McBeth Dec. 24 (BusinessDesk) - The Commerce Commission has cut a deal with Australian lender Bluestone Mortgages NZ over the fees charged on early repayments after a High Court ruling this year narrowed the regulator's scope to pursue a claim. The regulator settled with Bluestone, Trustees Executors and TEA Custodians (Bluestone) over deferred establishment fees, which were charged when a client repaid a loan within the first four years, it said in a statement. The deal will see Bluestone refund $200,000 to 295 customers. The commis...

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