Cashed up consumers from Money Converters settlement

Cashed up consumers from Money Converters settlement The Federal Court has authorized a $42.5 million settlement for a course action against Cash Converters. The Federal Court authorized a $42.5 million settlement in March for a course action against Cash Converters concerning the charging of exorbitant costs on signature loans. Money Converters had been accused of acting unconscionably for breaching the interest that is maximum underneath the credit rating guidelines. This settlement follows a $16.4 million settlement authorized by the Federal Court in 2018 in a class that is separate regarding interest charged on little quantity credit agreements. Initial action It…