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Sep 28, 2017 - 34 minute read

Hdfc personal loan payment

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Hdfc personal loan payment

Refunds on 118,000 small credit contracts Cash Hdfc personal loan payment 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. 35 million for 30 infringement notices from ASIC. It has also agreed to refund eligible consumers 10. 8 million in fees through a remediation program overseen by an independent expert who will report to ASIC. ASIC also flagged concerns that Cash Converters had not taken reasonable personal loan interest becu to verify consumers expenses in accordance with its responsible lending obligations.

The regulator's deputy chairman Peter Kell said he is particularly worried about lending to welfare recipients.

Hdfc personal loan payment

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