A New Zealand lender is dishing out more than $475 thousand as part of an antitrust settlement. Marac Finance unit, which merged with two other lenders to create Heartland New Zealand, has refunded nearly half a million dollars in unpaid loan repayment insurance rebates as part of a settlement with New Zealand’s Commerce Commission. The Commission received a complaint in 2010 accusing the lender of not paying rebates to customers who repaid auto loans early between 2006 and 2010. In response, the regulator found the company to be in violation of the Credit Contracts and Consumer Finance Act. About 1,000 customers will be repaid.
Full Content: The New Zealand Herald
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI