ComCom prosecutes Go Car Finance

The Commerce Commission has filed civil proceedings against Go Car Finance. (Image: Getty)

Fri, 15 Mar 2024

The Commerce Commission is prosecuting Go Car Finance for allegedly failing to sufficiently assess whether borrowers could make payments under consumer credit contracts without suffering substantial hardship. The enforcement action came after a two-year investigation into Go Car’s responsible lending practices. In the civil proceeding filed in the high court, the commission seeks pecuniary penalties, statutory damages for named borrowers and orders waiving any outstanding amounts owed by named borrowers whose vehicles have been...

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