Russell Hamblin-Boone, Chief Executive of the Consumer Finance Association, which represents the major short-term lenders operating in the UK, said:
“Martin Lewis’ suggestion that responsible, legal businesses are advertising to children is an absurd and reckless claim.
“CFA members do not target any specific group of people and certainly not children. As responsible lenders, our members comply with seven different pieces of sales, marketing and advertising related laws, as well as specific stipulations in our own Code of Practice.
“Put simply daytime adverts cost less than prime time evening adverts. In the past lenders may have bought advertising for a package of channels, which unbeknown to them, included children’s TV channels, but this was never an intentional marketing tactic. Where contracts allow these adverts have been withdrawn.
“It is irresponsible and wholly inappropriate to suggest that lenders are deliberately targeting children for any purpose. We demand that Mr Lewis either substantiate his insinuations with empirical evidence or rescind his comments.”
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