Commerce Commission prosecutes ‘reprehensible’ loan shark who charged interest rates as high as 1,738% to vulnerable consumers

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The New Zealand Bankers’ Association issued a statement applauding Hunt’s prosecution. NZBA chief executive Kirk Hope said at last year’s Financial Summit the banking industry had agreed with regulators and consumer groups that robust enforcement of existing consumer protection law was crucial to cracking down on rogue lenders who prey on vulnerable people.

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