Resimac Faces ASIC Proceedings Over Hardship Notice Handling

An announcement from Resimac Group Limited ( (AU:RMC) ) is now available.

Resimac Group Ltd has acknowledged civil penalty proceedings initiated by ASIC against its subsidiary, Resimac Limited, for alleged breaches related to hardship notices under the National Consumer Credit Protection Act. The company admitted its past shortcomings in handling hardship notices and has since improved its processes to better support customers facing financial difficulties. Resimac is also developing a Financial Contribution Program to compensate affected customers and is cooperating with ASIC’s investigation.

The most recent analyst rating on (AU:RMC) stock is a Hold with a A$0.93 price target. To see the full list of analyst forecasts on Resimac Group Limited stock, see the AU:RMC Stock Forecast page.

More about Resimac Group Limited

Resimac Group Limited operates in the financial services industry, primarily focusing on providing credit and loan products. The company is known for offering mortgage and financial solutions to its customers, with a market focus on supporting individuals and businesses in managing their financial needs.

YTD Price Performance: -7.88%

Average Trading Volume: 224,294

Technical Sentiment Signal: Sell

Current Market Cap: A$341.7M

See more data about RMC stock on TipRanks’ Stock Analysis page.