Regulatory Alerts2025-11-25
ASIC issues DDO stop order against City Finance Lending Pty Ltd
ASIC issued an interim stop order against City Finance Lending Pty Ltd to prevent the issuance of its small amount credit contract due to deficiencies in its target market determination. The regulator identified critical flaws in how the target market was defined, inconsistencies between the determination and the company's website, and inadequate distribution conditions to ensure product suitability. This 21-day order was implemented to protect retail consumers from obtaining credit products that may not align with their financial objectives and needs.
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