TGA 0.00% $1.17 thorn group limited

The one example I've been able to find so far is Make It Mine...

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    The one example I've been able to find so far is Make It Mine (and it took over 2 years from ASIC investigation to removal from Centrepay). However, they did more than slightly overcharge people:
    http://asic.gov.au/about-asic/media...sing-company-to-pay-125-million-in-penalties/

    "Make It Mine failed to disclose important information to its customers, breached various responsible lending obligations and operated for a period whilst unlicensed"

    I'm not so sure Thorn have had a breach that's even remotely close to this, but I can't be sure as all the detail is not yet disclosed. So far however, we know that they (using recent report):
    - Failed to adjust credit assessment for HPI appropriately ($3.1m)
    - Received pre-payments for short timeframes that they are paying back ($8.2m + $0.3m in interest)
    - Retained credit balances on some accounts that were closed (~$1m, mostly refunded)

    I would suggest the first is a breach of the law, so DHS are likely to initiate a review on TGA's use of CentrePay.
 
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