Review | 23 May 2016
- Investment loans
- Company borrowers
- Unregulated loans
- Credit provider
- Misrepresentation/Misleading conduct
- Unconscionable conduct
- Inappropriate finance
- they were misled by the broker and/or the FSP about the application of the National Consumer Credit Protection Act 2009 (Cth) to the loans,
- the FSP inappropriately provided notices to them, and
- FSP failed to respond to them regarding their concerns in relation to the loans.
- they were misled by the broker about the equalisation fees charged under the loan agreements,
- the equalisation fees were unconscionable,
- the FSP breached CIO Rules or engaged in unconscionable conduct in relation to the financial hardship assistance that it offered to the consumers, and
- the FSP provided inappropriate finance to the consumers.
The Review was referred to the Ombudsman for a Determination.
Follow this link for a full copy in PDF ► Review | 23 May 2016