MSE News: Payday loans: Government ignores calls to ban kids' TV ads

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"The Government has rebuffed MoneySavingExpert.com's calls to ban payday loan adverts from children's TV"
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Payday loans: Government ignores calls to ban kids' TV ads

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  • canterswest
    canterswest Posts: 364 Forumite
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    What does Stella Creasy think?


    If payday loan ads appear to break rules I will certainly complain to the ASA.


    The FCA is more difficult. It's a form from memory, you don't actually ever receive any communication about your complaint and whether any action was taken, or even if anyone at the FCA ever read your complaint.


    If the FCA is advertising its complaints service it needs a proper system like the ASA.
  • chanz4
    chanz4 Posts: 10,894 Forumite
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    Couldnt they just then go to provident for a loan for a kids item, not really any different. Also to clamp down on payments missing, it would be best to refuse to lend , but wait this will just send them to provident high apr loans
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • [Deleted User]
    [Deleted User] Posts: 1,655 Forumite
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    Well the founder of Wonga is a Conservative Party Donor. Matter of fact not libellous.
  • Morglin
    Morglin Posts: 15,919 Forumite
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    The Chairman of Wonga is a close chum of Cameron's, so is anyone surprised?

    These parasitic firms should be banned.

    Lin :mad:
    You can tell a lot about a woman by her hands..........for instance, if they are placed around your throat, she's probably slightly upset. ;)
  • minislim
    minislim Posts: 357 Forumite
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    this is vince cables department we are talking about.

    him with a few other rebel lid dem mp's are just in it to make the tories look bad.

    what they dont understand (think it might be vince's age though) is that most people can see what they're doing and its actually working against the lib dems. and possibly in favour or the tories too!

    he doesnt care for his own party though anymore! he'll be retiring soon anyway!
  • Apples2
    Apples2 Posts: 6,442 Forumite
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    Morglin wrote: »
    These parasitic firms should be banned.

    Lin :mad:
    Jump to the 19:39 mark on this clip and have a look at what would happen if your suggestion was endorsed.

    http://www.channel5.com/shows/the-big-cant-pay-debt-debate-live/episodes/the-big-cant-pay-debt-debate-live

    The doorstep lender market would absolutely boom.

    Genius suggestion, pure genius... Taking away the supply will not take away the demand.
  • Hazzinho
    Hazzinho Posts: 742 Forumite
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    Have to agree, you take PDL out of the equation loan sharks will take a lot of these customers and make life hell. PDL's are regulated and don't threaten to break your legs, no matter what people think of PDL the main highstreet lenders won't touch PDL customers.
  • mother_mission
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    We recently discovered that there are no ads when you watch TV "on demand". We have been looking for ways to avoid watching TV advertising altogether, and the two ways we have found are either (1) to pause the program at the beginning, go do something else for 15 minutes, then watch the program and fast forward through the ads, or (2) watch programs on catch up or on demand TV, which have no ads.

    It is not just the payday loans I am bothered by, it is the huge number of gambling ads on the sports channels, which are watched by a lot of children and young people. The bottom line is that such advertising is irresponsible and should be banned immediately. I will be writing to my MP today about this.
  • BillJones
    BillJones Posts: 2,187 Forumite
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    The calls were not "ignored". They were listened to, and disagreed with. There would have been no government interaction whatsoever if they were actually ignored.

    The editorial slant of this site is pretty pathetic at times. Its politics stinks.
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