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An update from Money3 Corporation Limited ( (AU:SVR) ) is now available.
The Federal Court has largely rejected ASIC’s claims against Money3 Loans Pty Ltd, a subsidiary of Solvar Limited, affirming the adequacy of Money3’s staff training and customer suitability benchmarks. However, the court found some lapses in verifying living expenses for five consumer loans and one instance of failing to inquire about financing fees. Solvar is committed to addressing these issues and is working with community and consumer groups to enhance best practices. The court will later decide on potential penalties and legal costs, while Solvar continues to update the market on developments.
The most recent analyst rating on (AU:SVR) stock is a Hold with a A$1.60 price target. To see the full list of analyst forecasts on Money3 Corporation Limited stock, see the AU:SVR Stock Forecast page.
More about Money3 Corporation Limited
Solvar Limited is a leading consumer and commercial finance company with over 20 years of experience in Australia and New Zealand. The company has funded over $3 billion in vehicles and personal loans, primarily dominating the used-vehicle finance market. Solvar leverages technology to offer a seamless loan application process through brokers, online, or directly to the group.
Average Trading Volume: 216,779
Technical Sentiment Signal: Buy
Current Market Cap: A$312.4M
Find detailed analytics on SVR stock on TipRanks’ Stock Analysis page.