Payday loans come under fire again as ASIC targets ‘loophpole’ loans

Consumer groups are warning of an explosion in high-interest payday loans if coronavirus supports are canceled as planned in September. Business watchdog ASIC has already taken action against two short-term credit providers – Cigno and BHF Solutions (BHFS) – after the pair allegedly overcharged desperate borrowers by exploiting a license exemption granted to credit contracts […]