Asic sues Harvey Norman over ads for ‘interest-free’ purchases

Corporate regulator alleges consumers were misled as interest-free payments required signing up for credit card with fees

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The corporate regulator has launched legal action against Harvey Norman and the credit provider Latitude, accusing the retailer and the finance company of misleading and deceptive conduct over an advertising campaign offering 60 months interest-free" purchase terms for household goods.

In documents filed with the federal court on Tuesday afternoon, the Australian Securities and Investments Commission said the ads, which appeared in newspapers, on radio and on TV between 1 January 2020 and 11 August 2021, misled consumers into thinking they could buy goods from Harvey Norman by making 60 equal monthly payments.

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