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ASIC commences legal action against lender and finance broker

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Australian Broker | 26 Aug 2013, 07:00 AM Agree 0
ASIC has taken legal action against a lender and finance broker targeting some of Australia's most disadvantaged citizens
  • James from Melbourne | 26 Aug 2013, 12:32 PM Agree 0
    Good to see ASIC on this one BUT wondering why they haven't targeted a more renowned car finance company featuring a certain wizard as seen on TV also appealing to this demographic? One can't help but wonder if they are picking on the smaller fish simply because its easier?
  • Regional Broker | 26 Aug 2013, 01:18 PM Agree 0
    This is great to see , lets face it its one person who has allegedly done all of this !!
    are the rest next or will they use their magic wizard wand to get out of it .
  • Keith of the West | 26 Aug 2013, 01:36 PM Agree 0
    Same old story I have seen the advertising essentially everyone qualifies for car loan. Always thought it was very dubious, given the sector being targeted.
  • Lyn from Sydney | 26 Aug 2013, 08:25 PM Agree 0
    They are picking on the small fish, to deflect from their lack of attempts to go the big fish who cause the most distress. Apparently, if you can afford expensive TV advertising, you are immune. Also, they admit having a car is important in that particular area. Where else are the locals going to get a loan to buy one?
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