Maurice Blackburn Lawyers has launched a claim on behalf of 50,000 customers of payday lender Cash Converters, seeking compensation for "exorbitant" interest rates. The Australian Financial Review reports that Cash Converters is alleged to have breached the 48 per cent interest rate cap. The company said its loans were compliant with consumer credit law. Rent the Roo, in South Brisbane, trading as Home Zone Rentals, has given the Australian Securities and Investments Commission an undertaking to refrain from engaging in credit activities for three years. The company was providing household goods under a "rent to buy" arrangement when it did not have a credit licence. The company had put terms into its lease contracts that were designed to avoid the effect of the National Credit Code. iSelect says it has "no reason to not achieve" its forecast EBITDA profit for this calendar year of A$30 million. It said it would release a trading update in coming days. The veracity of iSelect's disclosure has been subject to recent scrutiny by ASIC. The firm said it had complied with all its disclosure obligations.