Cash Converters: Turning Your Misery Into Their Money… Until Maurice Blackburn Came Along

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Australia’s largest ‘pay day loan’ company has caved on the first day of a class action lawsuit, coughing up a $16.4 million settlement to settle one part of a case brought by nearly 30,000 Queenslanders, some of whom were illegally charged interest rates that…

  • Chris Graham
  • New matilda

The maximum annual interest chargeable under Queensland law is 48 per cent per annum.

Kash 2bIt’s the third time in as many years Maurice Blackburn Lawyers has led a class action against Cash Converters.

The ASX-listed company – worth almost $200 million with more than 700 franchises around the world – was…

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