News: CCV Cash Converters disappointed with decision to extend protected earnings amount regulation

Nov 29 (Reuters) - Cash Converters International Ltd (CCV) -

• Disappointed with decision to extend protected earnings amount regulation to cover saccs provided to customers and limit it to 10%
• Change will impact around 500,000 cash converters customers who access short term cash advances
• "Also concerned that recommendation will artificially restrict a customer's access to credit"
• Recommendations will only come into effect 12 months after legislation passes through parliament
• "Impact of changes will not occur until at least 2018"
• Consumers most likely affected will be lowest income recipients
• Refers to recommendation 1, which caps a customer's loan repayments as a percentage of their net income