{"id":33613,"date":"2016-11-09T09:14:03","date_gmt":"2016-11-09T02:14:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cash-converters-to-refund-10m-in-unfair-payday-loans-after-asic-ruling\/"},"modified":"2016-11-09T09:19:37","modified_gmt":"2016-11-09T02:19:37","slug":"cash-converters-to-refund-10m-in-unfair-payday-loans-after-asic-ruling","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cash-converters-to-refund-10m-in-unfair-payday-loans-after-asic-ruling\/","title":{"rendered":"Cash Converters to refund $10m in unfair payday loans after Asic ruling"},"content":{"rendered":"


\nAustralian Securities and Investments Commission says loan terms amounted to breaches of National Credit ActCash Converters will refund Australian consumers more than $10m in unfair payday lending after a major investigation by Australia\u2019s corporate watchdog found it failed to meet responsible lending obligations.The lending group has also been forced to pay fines totalling $1.35m as part of 30 infringement notices issued by the Australian Securities and Investments Commission for failing to assess small loans as unsuitable. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Cash Converters to refund m in unfair payday loans after Asic ruling<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Australian Securities and Investments Commission says loan terms amounted to breaches of National Credit ActCash...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-33613","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8K9","jetpack-related-posts":[{"id":896,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cash-genie-goes-into-liquidation-and-urges-customers-to-claim-compensation\/","url_meta":{"origin":33613,"position":0},"title":"Cash Genie goes into liquidation and urges customers to claim compensation","date":"January 6, 2016","format":false,"excerpt":"\r Payday lender trying to trace 12,000 borrowers who are still due redress, with average compensation around \u00a3175 per personBorrowers who took out loans from payday lender Cash Genie have been urged to come forward to claim compensation after the firm went into liquidation.The company, which offered short-term loans at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81446,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cap-rent-to-own-lending-like-payday-loans-mps-told\/","url_meta":{"origin":33613,"position":1},"title":"Cap rent-to-own lending like payday loans, MPs told","date":"March 1, 2018","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Cap rent-to-own lending like payday loans, MPs told","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":45808,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/payday-loans-complaints-rise-22-despite-fca-clampdown\/","url_meta":{"origin":33613,"position":2},"title":"Payday loans complaints rise 22% despite FCA clampdown","date":"February 28, 2017","format":false,"excerpt":"\r Ombudsman says it is now receiving about 200 such complaints a week, but PPI remains the worst offenderComplaints to the financial ombudsman about payday loans have risen to almost 200 a week \u2013 and not all of those experiencing problems necessarily fit the image of low-income borrowers relying on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12726,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dangerous-payday-loans-join-guns-and-drugs-on-googles-banned-ad-list\/","url_meta":{"origin":33613,"position":3},"title":"'Dangerous' payday loans join guns and drugs on Google's banned ad list","date":"May 12, 2016","format":false,"excerpt":"\r $46bn industry banned from advertising on most visited site in the worldLenders use extremely high interest rates and target vulnerable peopleGoogle announced a ban on search ads from payday lenders on Wednesday, classifying them in their \u201cdangerous products\u201d category with guns, tobacco and explosives. Banning ads from payday lenders\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fca-urged-to-extend-cap-on-payday-loan-fees-to-other-forms-of-credit\/","url_meta":{"origin":33613,"position":4},"title":"FCA urged to extend cap on payday loan fees to other forms of credit","date":"May 27, 2018","format":false,"excerpt":"\r Debt charities and MPs want action when City watchdog\u2019s 18-month review is publishedThe City watchdog is facing mounting pressure to extend its cap on payday lending fees and interest to a broader range of high-cost financial products before a major review of lending practices this week. Debt charities and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89592,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/doorstep-lending-crackdown-to-save-vulnerable-from-debt\/","url_meta":{"origin":33613,"position":5},"title":"Doorstep lending crackdown to save vulnerable from debt","date":"May 27, 2018","format":false,"excerpt":"\r Financial Conduct Authority to take action after schemes continue to flourish despite cap on payday loansMeasures to clamp down on doorstep lending and rent-to-own schemes are expected to be unveiled this week following concerns that they are fuelling problem debt.The action comes after warnings that vulnerable people are at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33613"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=33613"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33613\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=33613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=33613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=33613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}