Alternative Metrics, page-5

asic review into the sector:

"Source said the regulator wants to find out more about how these companies make money, their level of disclosure to customers, credit approval processes and is particularly interested in things like late payment fees and other areas where customers may get stung. "

" Sources said it would be a fairly typical sort of review for a fast-growing new industry, rather than aimed at prosecuting any one player or practice. "

given asic essentially already allowed an exception to interest rate caps for payday lenders, i don't really see them doing much here (though who knows, gov/regulators can always surprise). if anything, i think worst case they cap late fees as a percentage of the cost of the underlying product. slight effect around the edges though i believe this is a bit of a panic selloff. i think at the AGM update they will produce a very good set of numbers, ditto for post-christmas.

maybe a good chance to top up before the christmas period.