Article Details
Id: | 16899 |
Product: | finPOWER Connect |
Type: | NEW |
Version: | 3.03.00 |
Opened: | 09/04/2020 |
Closed: | 12/04/2020 |
Released: | 01/05/2020 |
Job: | J024077 |
New Zealand High-Cost Consumer Credit Contracts; updated Account Default Interest Change wizard
A new warning has been added to the Account Default Interest Change wizard under the following conditions:
- Account Type is Fixed Term Loan and Consumer based
- Account is NOT a New Zealand High-Cost Consumer Credit Contract
- Account was opened on or after 1 June 2020
- New Default Interest Rate is more than 50% - the threshold for a High-Cost Consumer Credit Contract