New Zealand payday lender NZ Fintech Ltd (trading as Moola) is facing legal action from the Commerce Commission, which alleges it has failed to act as a responsible lender.  The company, which runs the Moola and Need Cash Today websites, makes short term loans of up to NZ$5000. The Commission says that, between June 2015 and November 2017, when Moola was offering loans with interest rates of between 182.5 per cent and 547.5 per cent (depending on the loan term) it failed to take care that borrowers could repay without hardship, did not treat borrowers ethically and did not ensure the rates charged were not oppressive. The former directors of failed insurance company CBL are refusing to go away quietly following the release last week of a review of the Reserve Bank of New Zealand's actions which ended in the liquidation of the insurer in late 2018.  The review found the RBNZ acted properly, but CBL's largest shareholders and former directors, Peter Harris and Alistair Hutchison, are taking out full page ads in newspapers and have launched a website, claiming the review failed to answer many of the "core questions".  Newsroom reports they hit a snag this week when publisher Stuff refused to continue running their ads, citing concerns over the Advertising Standards Code for Financial Advertising.