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Government 'suffocating' peer-to-peer

Thursday, March 23rd, 6:00AM

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.

He objects to peer-to-peer lenders being subject to the requirement that lenders' fees are proportionate to their costs in adminstering a loan. Seymour produced a supplementary order paper to amend the CCCFA. Peer-to-peer lender Harmoney is involved in a court case brought by the Commerce Commission over its platform fees, which used to be a percentage of the loan amount. Seymour said National was suffocating the new peer-to-peer lending industry

NZ must be nimble on p2p: Seymour

Tuesday, October 11th, 9:59PM

Act leader David Seymour is calling on the Minister of Commerce to allow peer-to-peer platforms flexibility in their charges.

Harmoney launches automated service

Friday, September 30th, 12:03PM

Peer-to-peer platform Harmoney has launched its automated lending system.

Previous P2P Lending News

Harmoney offers bigger loans

Thursday, September 22nd, 10:40PM

Peer-to-peer lender Harmoney is increasing its loan limit.

Squirrel looking for more opportunities

Tuesday, September 20th, 8:12PM

Squirrel Money founder John Bolton says he probably would not have bothered with peer-to-peer lending if he had not been able to see opportunities beyond it.

First year loss not unexpected: LendMe

Wednesday, September 7th, 6:00AM

LendMe boss Marcus Morrison says a $1 million loss in its first financial statements reflects the investment made in getting the platform off the ground.

ComCom wants legal clarity

Monday, August 29th, 10:06AM

The Commerce Commission has gone to the High Court to ask how the Credit Contract and Consumer Finance Act applies to consumer loans entered into with peer-to-peer lender Harmoney.

Lending Crowd wants to raise $5m

Friday, August 12th, 12:38PM

Peer-to-peer lender Lending Crowd wants to raise up to $5 million from investors to finance its growth plans.

Squirrel launches secondary market

Wednesday, August 3rd, 6:00AM

Peer-to-peer lender Squirrel Money is to launch a secondary market for its investors next week.

Harmoney's first full-year results show loss

Tuesday, August 2nd, 6:00AM

Could New Zealand's first and biggest peer-to-peer lender be growing too fast?

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