MTF case significant to clarifying consumer credit standards, says Comcom

Fri, 24 Jul 2015

By Suze Metherell July 24 (BusinessDesk) - The Commerce Commission says its ongoing consumer credit dispute with Motor Trade Finance is its most significant case for establishing rules on what fees lenders can charge. Mark Berry, chairman of the anti-trust regulator, told the commission's annual conference yesterday that consumer credit remains a priority area and it will use the courts to clarify the boundaries after recent changes to the Credit Contracts and Consumer Finance Act 2003, which came into full effect earlier this month. The...

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