Submission on consumer remediation guidance for businesses

Whānau should have confidence that issues will be resolved fairly when they are impacted by unlawful conduct from a trader. They should not be left stuck with worse financial circumstances that seriously risk their wellbeing because of such conduct.

FinCap welcomes the opportunity to comment on the Commerce Commission’s Consumer remediation guidance for businesses – consultation on draft (Draft Guidance). A key reason FinCap actively pushes for consumer protections, beyond deterring unfair and harmful conduct in the first place, is ensuring that the financial mentors and the whānau they work with have a pathway to unwind the harm caused by unlawful or unreasonable conduct by traders. We strongly support guidance that signals clear expectations about fair remediation.