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Credit with Surcharge! Latvians at Mogo, Forced to Delete Illegal Payments From over 1,000 Contracts
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Credit with Surcharge! Latvians at Mogo, Forced to Delete Illegal Payments From over 1,000 Contracts
The microfinance company MOGO has been ordered to refund additional payments from over 1,000 credit contracts, according to the National Commission for the Financial Market. The CNPF claims that MOGO exceeded the legal limit of 0.04% per credit day of the total loan amount, set total credit costs higher than the amount actually disbursed, and failed to comply with obligations regarding pre-contractual information to customers and the completenes…
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