The Australian Securities & Investments Commission announced that the Federal Court has ordered business lender Green County Pty Ltd and its loan introducer, Max Funding Pty Ltd, to pay combined penalties of AUD 515,000 for consumer credit law breaches linked to four loans made to two consumers. Green County was fined AUD 405,000 for engaging in unlicensed credit activity and breaching consumer protection provisions, while Max Funding was fined AUD 110,000 for engaging in unlicensed credit activity. The Court found neither entity had ever held an Australian credit licence and that they failed to make reasonable inquiries, or otherwise establish, that the loans were business loans, meaning the borrowers did not receive protections under the National Credit Code. ASIC commenced proceedings in March 2023, with a liability judgment delivered on 15 April 2025.
Australian Securities & Investments Commission 2025-12-12
Australian Securities & Investments Commission secures AUD 515,000 Federal Court penalties for unlicensed consumer lending by Green County and Max Funding
The Federal Court ordered Green County Pty Ltd and Max Funding Pty Ltd to pay AUD 515,000 for breaches of consumer credit law. Green County was fined AUD 405,000 and Max Funding AUD 110,000 for unlicensed credit activity and failing to ensure loans were business loans, denying borrowers protections under the National Credit Code. Neither entity held an Australian credit licence, and ASIC initiated proceedings in March 2023.