Lending company Moola says it will defend civil proceedings in court
Lending company Moola says it will defend civil proceedings in court
8 July 2019
The Commerce Commission alleges the company breached responsible lending practices between June 2015 and November 2017.
The Commerce Commission says Moola was charging borrowers up to 547 percent and failed to make sure they could repay loans without substantial hardship.
It also alleges the company didn't treat borrowers reasonably and ethically when loan agreements were breached.
Chief Executive Guy Randall says Moola has a strong focus on compliance and on being a socially responsible lender.
He admits the company doesn't always get it right but when it makes a mistake, it fixes it.
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