THE country’s business watchdog is using legal action against two Gold Coast payday loan providers, accusing them of avoiding accountable financing responsibilities once they charged clients charges up to 160 % for the loan that is original.
The legal action will be considered a test situation for the Australian Securities and Investment Commission (ASIC), which would like to draw a line into the sand under short-term credit providers attempting to dodge customer security legislation. Continuar leyendo “ASIC takes Teleloans Pty Ltd and Finance & Loans Direct Pty Ltd to Federal Court”