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Cash Converters to settle payday lending class action
Cash Converters, Australia's biggest payday lender, is in a trading halt pending the settlement of a class action alleging it charged exorbitant interest rates to Cash advance voucher format
Short-term lender Cash Converters faces a $40 million class action that it forced customers to pay loan charges that exceed a legal cap on interest rates.
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Cash Converters said today Mr Webb will depart at the end of the financial year, after a decade in the role. The company did not provide a reason for his exit.
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