NEW3.03.00 · Released 1 May 2020

NEWfinPOWER Connect

Released in

3.03.00

1 May 2020

1. Opened9 Apr
2. Closed12 Apr
3. Released1 May

Article 16899 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