8 Jul 2019

Commerce Commission launches legal action against Moola

From Checkpoint, 5:21 pm on 8 July 2019

The Commerce Commission has payday lender Moola in its legal sights, for charging an interest rate of more than 500 percent on some loans without allegedly checking if its customers can afford to pay the money back. Its investigation began after a referral from Christchurch budget advisory service FinCap. Its CEO Tim Barnett joined Checkpoint live to discuss the issue.