"The company has been given an extensive release by ASIC, and entry into the EU is without admission of wrongdoing. " Denise Boyd from the Consumer Action Law Centre told the ABC that ASIC's action is "very welcome" but there is navient private loan default deep rooted problem in the payday lending industry".
"The industry seems to be unable or unwilling to lend responsibly," she said. "If the biggest player in the market has been found to have such a serious problem that now has unsecured personal loans philippines pay back millions of dollars to people that it has irresponsibly lent to, then I think it throws a serious question mark over the legitimacy and responsibility of the entire industry.
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