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

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.

It’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…

• Cash Converters: Turning…