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Australian court finds rental company guilty of violating consumer credit laws

( May 6, 2015, 07:17 GMT | Official Statement) -- MLex Summary: Following action by the Australian Securities & Investments Commission, or ASIC, the Federal Court found Make It Mine Pty. Ltd., which sold electronic devices and white goods via installment payments to people who receive government benefits, breached consumer credit laws when it failed to disclose important information to thousands of customers, and operated without a credit license for nine months. The Court found that aside from failing to inform thousands of customers the amount of interest they were being charged, the company also failed to properly assess customers’ suitability to their contracts. A hearing on penalty will begin later this year....

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