They are offering high-interest loans to customers without having to abide by the Consumer Protection Code (CPC), introduced in 2012 to protect borrowers from being harassed with unsolicited phone calls to homes and offices if they fall into arrears.

Household names including Harvey Norman, Mothercare, Appliances Delivered, along with a host of dental clinics, jewellers and other stores, are using privately-funded Australian credit provider Flexi Fi to offer loans to their customers wishing to buy products.

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