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Court dismisses ASIC case against short-term lenders By Sarah Simpkins 23 June 2021 The Federal Court has dismissed ASIC’s application over alleged breaches of consumer credit provisions by short-term lenders Cigno and BHF Solutions. ASIC had commenced the proceedings against the short-term lenders in September, seeking declarations of contravention and injunctions over a business model where the companies reportedly provide small amounts of credit to a large number of consumers, while charging substantial fees and not holding Australian credit licences. The companies reportedly provided small amounts of credit to a large number of consumers, while charging substantial fees and not holding Australian credit licences, according to ASIC.

Sarah simpkinsJustice john hallySarah courtNational credit codeMorrow services agreementBusiness accelerator programNational consumer credit protectionNational consumer credit protection actLeah morrowNational creditFederal courtFull federal courtMortgage businessசாரா சிம்ப்கின்ஸ்சாரா நீதிமன்றம்தேசிய கடன் குறியீடு