Harmoney to plead guilty to misleading consumers: Commerce Commission

Sun, 31 Jul 2016

By Sophie Boot Aug. 1 (BusinessDesk) - The Commerce Commission says Harmoney will plead guilty to charges of misleading consumers after the regulator filed charges against New Zealand's first and biggest peer-to-peer lender under the Fair Trading Act. In a media release, the commission said Harmoney faced six charges relating to a pre-approval letter sent in various forms to more than 500,000 New Zealanders between October 2014 and April 2015, which misled recipients by telling them they had been pre-approved to borrow money from Harmoney...

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