In response to new research about high cost loans (payday loans) Government has today announced that it will be exploring whether further restrictions are needed around how products like these are provided and promoted to the public.

We know from our own research that the public is worried about some advertising for these types of products. That’s why we’ve already taken action against advertisers who have promoted payday loans in an irresponsible manner or who have provided confusing or misleading information.

Different aspects of consumer credit advertising are subject either to the law, enforced by the Office of Fair Trading, or the Advertising Codes, administered by us. In light of the announcement we’ll be working closely with Government and other regulators to explore what this latest research tells us. If there is a case for change we’ll play our part.

Recent examples of ASA rulings involving Payday lenders:

WageDayAdvance Ltd

Sunny Marketing Ltd t/a 100pounds.co.uk

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