ASIC crackdown on private lenders for alleged evasion of National Credit Code

Cathy Russo, Kate Archer and Boyd Fernicola of MacPherson Kelley look at a private lender that has come under ASIC’s spotlight for its lending practices and warn that if something ‘looks and feels’ like a loan for personal, domestic or household purposes, private lenders should not seek to adopt creative structures to treat that loan as a commercial loan outside the protections of the National Credit Code.

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