Responding to the announcement of new guidance following BCAP’s review 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:
“The Committee of Advertising Practice has conducted a comprehensive review of the content and scheduling of adverts based on the evidence. We have fully co-operated with the Committee and welcome the new Guidance. CFA members have consistently shown a commitment to only reaching appropriate audiences so we look forward to providing a detailed response to the consultation on scheduling of TV ads for payday loans.”
BCAP Review and New Guidance
The details of the BCAP review 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.