From asic.gov.au: ASIC is suing Snaffle (operated by Walker Stores Pty Ltd) for allegedly inflating prices of household goods and electronics, while applying unlawful interest charges under credit contracts, resulting in interest rates exceeding the legal cap of 48%.

Court documents detail that Snaffle’s pricing structure led to consumers overpaying significantly for items like washing machines, fridges, and mobile phones, with additional claims that key information was not disclosed as required by the National Credit Code.

ASIC is seeking declarations of breaches, penalties, and injunctions against Walker Stores for exploiting consumer protections.