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Australian Securities and Investments Commission claims loan terms amounted to breaches of nationwide Credit Act

Cash Converters will return $10m in unfair pay day loans following the Australian Securities and Investments Commission discovered it had breached credit guidelines. Photograph: Bloomberg via Getty Images

Cash Converters will return $10m in unjust payday advances following the Australian Securities and Investments Commission discovered it had breached credit legislation. Photograph: Bloomberg via Getty Images

Last modified on Wed 9 Nov 2016 02.17 GMT

Money Converters will refund Australian consumers significantly more than $10m in unfair lending that is payday a major research by Australia’s corporate watchdog discovered it neglected to satisfy accountable financing responsibilities. Continue reading