ASIC has begun appropriate action against two payday financing companies alleging they’ve been avoiding their accountable financing responsibilities. The businesses claim they don’t have to adhere to specific customer protection guidelines beneath the nationwide credit rating Protection Act 2009 (National Credit Act) because their loans are exempt under a credit exemption that is short-term. ASIC alleges the businesses, according to their company models, usually do not run underneath the exemption and must adhere.. Read More