Broadlands Finance to repay overcharged customers $3.3M

Mon, 06 Oct 2014

By Suze Metherell Oct. 7 (BusinessDesk) - Broadlands Finance, the auto-financier company owned by Tony Radisich, will repay customers $3.3 million in overcharged fees and interest as part of a settlement with the Commerce Commission. The Auckland-based lender was found to have breached section 35 of the Credit (Repossession) Act when it charged interest and fees following the sale of repossessed property, as well as breaching the Fair Trading Act when it misled customers that it had the right to do so, the regulator said in a statement. T...

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