Makes me worry a bit. CCV are probably more legit than most, but...

Makes me worry a bit. CCV are probably more legit than most, but with size comes scrutiny. I actually don't see the figures quotes as being unreasonable when set-up fees are included, but the headline of 300% interest makes for sensational reading.

I doubt there is much the regulator can do. If they push the more reputable lender away from the smaller loans (which on a dollar loaned amount would have to be much more expensive to set up) where are people going to go? The old loan shark? A Current Affair will have a field day.

I reckon this is a lot of hot air that is going to go away, but there will be short term pain. CCV appear to be a well run business that will find legitimate ways to satisfy the regulators.