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The latest announcement is out from Latitude Group Holdings Ltd. ( (AU:LFS) ).
Latitude Group Holdings Limited’s credit card arm has entered into an enforceable undertaking with the Australian Communications and Media Authority after breaching the Spam Act. The company has paid a $3.96 million penalty in connection with non-compliant SMS messages sent to customers.
After identifying the potential breaches, Latitude self-reported the issue to the regulator and strengthened its spam compliance processes. Under the undertaking, it will appoint an independent expert to verify that its updated communication practices meet regulatory requirements, signalling a move to tighten governance and restore confidence among regulators and customers.
The most recent analyst rating on (AU:LFS) stock is a Hold with a A$1.20 price target. To see the full list of analyst forecasts on Latitude Group Holdings Ltd. stock, see the AU:LFS Stock Forecast page.
More about Latitude Group Holdings Ltd.
Latitude Group Holdings Limited is a financial services provider listed on the ASX, operating a credit card business among its consumer finance offerings. The company focuses on credit products for retail and personal customers in Australia, competing in a regulated market where compliance with communications and consumer protection laws is critical to its operations and reputation.
Average Trading Volume: 71,286
Technical Sentiment Signal: Sell
Current Market Cap: A$951.4M
See more data about LFS stock on TipRanks’ Stock Analysis page.