ASIC warns of 'extremely high' car loan fees amid rising complaints
The Australian Securities and Investments Commission (ASIC) warned on June 24, 2026, of high-interest car loan traps amid rising consumer complaints. A report highlighted Rapid Loans' 22 percent median interest rate, the highest among lenders, and excessive fees that can lead to severe financial distress. ASIC's recommendations aim to protect vulnerable borrowers from predatory lending practices.
Summary by OZbrief Editorial · ABC News – Top stories · Source
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Published 23 Jun 2026, 14:40 UTC · Updated 23 Jun 2026, 14:50 UTC
Summary by OZbrief Editorial. Original report: ABC News – Top stories. Editorial policy · Corrections
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