Cash Converters has paid a total of 1. 35 million for 30 infringement notices. ABC News: Giulio Saggin, file photo. Payday lender Cash Converters will refund consumers millions of dollars and pay an infringement notice after an investigation by the Australian Securities and Investments Commission (ASIC).
Key Points. Refunds on 118,000 small credit contracts Cash Converters to refund 10. 8 million in fees ASIC says Cash Converters violated responsible lending obligations. The refunds relate to 118,000 small amount credit contracts, or loans. ASIC had raised concerns that the company had failed to make reasonable inquiries into consumers' income and expenses and the loans they issued were "unsuitable". Cash Converters has paid a total of 1.
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Hiding negative complaints is only a Band-Aid. Consumers want to see how a business took care of business. All business will get complaints. How those businesses take care of those complaints is what separates good businesses from the rest.
Consumers love to do business with someone that can admit mistakes and state how they made improvements. Corporate Advocacy Business Remediation and Customer Satisfaction Program. Show customers why they should trust your business over your competitors. I keep getting phone calls from this so called attorney's office claiming I had received a cash advance.