Low interest rates for personal loans in india

35 million for 30 infringement notices from ASIC. It has also agreed to refund eligible consumers 10. 8 million in fees through a remediation program overseen low interest rates for personal loans in india an independent expert who will report to ASIC.

ASIC also flagged concerns that Cash Converters had not taken reasonable steps to verify consumers expenses in accordance with its responsible lending obligations. The regulator's deputy chairman Peter Kell said he is particularly worried about lending to welfare recipients. "ASIC is seeking to protect financially vulnerable consumers, many of whom are recipients of welfare payments, from falling victim to unsuitable payday loans," he said.

"Payday lending is a high priority area for ASIC, and we will continue to pursue lenders who do not follow their responsible lending obligations. " The independent expert will also review Cash Converters' business operations. Consumers who had two or more small amount loans in the 90 days before taking out another small amount loan through Cash Converters' website during the period 1 July 2013 to 1 June 2016 will be contacted with information about their refund.

Low interest rates for personal loans in india

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Low interest rates for personal loans in india

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Low interest rates for personal loans in india