Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 2GB account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 2GB content and other benefits.


Joining is free and easy.

You will soon need to register to keep streaming 2GB online. Register an account or skip for now to do it later.

Advertisement
Advertisement
Advertisement

Corporate watchdog sets sights on payday lender

Article image for Corporate watchdog sets sights on payday lender

The Australian Securities and Investments Commission is looking to act on its power to shut down online payday lenders who charge exorbitant fees.

ASIC released a consultation paper proposing action against Cigno Pty Ltd and Gold-Silver Standard Finance Pty Ltd.

The regulator claims the lender charges combined fees as high as 990 per cent interest.

ASIC Commissioner Sean Hughes tells Ross Greenwood these organisations were not regulated.

“These are extraordinary amounts of money and the point we want to make is you don’t have to do it. There are other options.”

Click PLAY to hear the full interview

Deborah Knight
Advertisement