Sunshine Loans charged prohibited fees – court
The lender illegally charged fees over 12,000 times
Source: brokernews.com.au
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Top News In Sunshine Loans Today - Breaking & Trending Today
'Wage-advance' apps aren't subject to responsible-lending obligations, but there are calls for government intervention
When Sharmy Walker was hit with a huge vet bill, she turned to a new type of fast-money app to help cover it. Now, she says she's trapped in a "vicious cycle" of debt.
Source: abc.net.au
Buy now pay later, pay day loans: concern rising interest rates and cost of living pressures will push cash strapped people into riskier loans: ASIC
Cash-strapped people will be pushed towards riskier payday loans, buy now, pay later and debt consolidation products, the head of the Australian Securities and Investments Commission warns.
Source: afr.com
Latitude fined $1.55m for spam breaches
The personal lender has been fined after sending over 3 million commercial emails and text messages to customers without opt-out options.
Source: theadviser.com.au
ASIC cuts back on court cases
The watchdog launched almost 100 fewer criminal cases in the first half of this year than in the six months before and only a third as many civil actions.
Source: afr.com