Interest.co.nz reporting today......
The Commerce Commission has filed civil proceedings in the Auckland High Court asking the Court questions about how the Credit Contract and Consumer Finance Act 2003 (CCCFA) applies to consumer loans entered into with peer-to-peer lender Harmoney Limited.
Harmoney says it's "disappointed' with the commission's action.
The loss-making Harmoney is already facing a six-figure fine in a separate Fair Trading case brought earlier by the commission, and to which it has pleaded guilty.
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