As BCAP begins its public consultation on the scheduling of payday loan advertising, Russell Hamblin-Boone, Chief Executive of the Consumer Finance Association which represents some of the best known short-term lenders said:
“CFA members have consistently shown a commitment to only reaching appropriate audiences* so we look forward to providing a detailed and evidence-based response to the consultation on scheduling of TV ads for payday loans.”
* CFA Advertising and Marketing Guidelines are available here.
BCAP Review and New Guidance
Following its year-long review of payday loan advertising, BCAP announced new guidance for payday loan adverts and its intent to run a public consultation. Details are available here.
Inforgraphic on payday loan advertising
The CFA has created an infographic from official data sources that puts in context the perceived issue around advertising of short-term loans. This can be viewed here.