Abstract
In August 2014, the Federal Court of Australia delivered a significant decision on the scope and application of new responsible lending laws for credit providers: 'Australian Securities and Investments Commission v The Cash Store Pty Ltd (in liquidation)' [2014] FCA 926 ('ASIC v The Cash Store'). The court found that there were numerous breaches of the responsible lending obligations by The Cash Store ('TCS'), a credit assistance provider (now in liquidation), and Assistive Finance Australia ('AFA'), a credit provider, when providing small, short-term loans (often known as payday loans) to consumers.
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