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The major bank and big law ties to Cigno Australia – one of the country’s most persecuted payday loan ventures

By ABC NEWS (Australia)

Published : Aug. 11, 2024 - 11:22

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Consumer law experts say big banks and law firms should cut ties with controversial pay day lender on the Gold Coast, which has been operating illegally. The federal court found Cigno Australia helped hand out 30 million dollars in fast cash loans without holding a credit licence, and then charged 70 million more in ‘prohibited’ fees.

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