The Commerce Commission has filed civil proceedings against Harmoney at the High Court, claiming peer-to-peer lender Harmoney's platform fees broke the law and borrowers deserve compensation.
TSB Bank has revealed it has lent $50 million in peer-to-peer loans via Harmoney.
National and NZ First have blocked Act leader David Seymour’s attempt to add a definition of a credit fee to the Credit Contracts and Consumer Finance Act.
Act leader David Seymour is calling on the Minister of Commerce to allow peer-to-peer platforms flexibility in their charges.
Peer-to-peer platform Harmoney has launched its automated lending system.
Questions are swirling around the future for the Sovereign Home Loans business. As we report here Sovereign will remain part of ASB and hasn’t been included in the sale to AIA.