ASIC takes Harvey Norman, Latitude to court over interest-free offers | MsEmmaK
Australia’s corporate regulator is taking financial services company Latitude and electronics retailer Harvey Norman to court over allegations that advertisements for interest-free payment methods didn’t give customers the full picture of the costs involved.
ASIC has taken Latitude and the electronics retailer to task over one of the companies’ interest-free offers.ASIC claims that between January 2020 and August 2021, ads that promoted ‘no deposit’ and ‘interest free’ payments didn’t disclose that consumers could only access these benefits if they applied for a Latitude GO Mastercard.
ASIC claims that customers who signed up for a GO Mastercard between March and August of 2021, made a purchase at Harvey Norman and paid it off over a 60-month period would be liable at least $537 in fees on top of the purchase price of their item.
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