Credit is credit and needs credit check, full stop. You can observe from APT finances that a massive chunk of their earnings are actually from late fees. So APT expansion rely on circumventing the regulation and I believe this senate enquiry will enable extension of the regulation to finally reach afterpay. Such extension would literally destroy APT because its business model rely heavily on circumventing credit checks.
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- reason for late afternoon crash SMH article
reason for late afternoon crash SMH article, page-114
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