News | Politics
30 Mar 2024 2:52
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Politics

    Those who borrow money are being charged up to 803 per cent a year in interest rates

    Those who borrow money are being charged up to 803 per cent a year in interest rates


    The Commerce Commission has released a review of more than 200 money lenders - and it shows many aren't meeting their obligations.

    The review looked at whether the companies were clearly displaying information such as contract details, interest rates and fees on their websites - and found 21 percent weren't complying.

    Commissioner Anna Rawlings says the law requires all details to be made available and clear to borrowers.

    She says it's important information so borrowers can understand what terms they're signing up for and what to do if anything goes wrong.

    Anna Rawlings says they also found a huge variation in interest rates and fees, ranging from no interest at all - through to interest of 803 percent.

    © 2024 Newstalk ZB, NZCity

     Other Politics News
     29 Mar: Another pay offer is on the table for Police - after union members labelled the last one insulting
     28 Mar: The Secondary Principals Association believes the community should get behind schools and students to help reduce bad behaviour
     28 Mar: Victorian Premier Jacinta Allan says government will roll out tobacco shop licensing by end of year
     28 Mar: Local councils are being challenged to back up rising debt with infrastructure revenue
     28 Mar: Tax havens and worker exploitation: Baltimore bridge disaster gives glimpse into 'murky world' of shipping
     28 Mar: Cabinet has halted work on plans to make the Kermadec Ocean area, a sanctuary
     28 Mar: Fiji PM orders Chinese police out of country, saying no need for them in Pacific police force
     Top Stories

    RUGBY RUGBY
    The Chiefs are backing young first-five Josh Jacomb to step up in tonight's Super Rugby clash against the Crusaders in Christchurch More...


    BUSINESS BUSINESS
    New Zealand Food Safety is supporting Matakana Smokehouse in its recall of a specific batch of two of its salmon products because of the possible presence of Listeria More...



     Today's News

    Rugby League:
    NRL Good Friday: Bulldogs take on desperate Rabbitohs, Broncos renew rivalry with Cowboys 23:07

    Law and Order:
    Gisborne Police have charged three people with graffiti vandalism and have identified a fourth suspect after the city's rainbow crossing was defaced with white paint earlier this week 21:57

    Entertainment:
    Heidi Klum would've "loved" a role in 'Griselda' 21:53

    Law and Order:
    Police have left the scene of a party that erupted into a disturbance on Auckland's Princes Wharf 21:37

    Entertainment:
    Tom Schwartz "made out" with Scheana Shay 12 years ago 21:23

    Entertainment:
    Mel B vowed she would never marry again following her split from Stephen Belafonte 20:53

    Entertainment:
    Eva Mendes has branded her mum "incredible" for retaining her sense of humour during her battle with cancer 20:23

    Entertainment:
    Katie Maloney doesn't "hang out" with her 'Vanderpump Rules' co-stars 19:53

    Entertainment:
    Jessica Chastain found it "difficult" to film 'Mothers' Instinct' with her showbiz pal Anne Hathaway 19:23

    Rugby:
    The Chiefs are backing young first-five Josh Jacomb to step up in tonight's Super Rugby clash against the Crusaders in Christchurch 18:57


     News Search






    Power Search


    © 2024 New Zealand City Ltd