Wonga advert banned by ASA

Aquamania

http://www.bbc.co.uk/news/uk-26950172

I wonder how long before Martin & his team will be whooping with joy? :cool:

System

I think they have a new set of adverts anyway so it is a bit of a pyrrhic victory

CreditCrunchie

Why don't they just ban advertising payday loans altogether. There's an entire generation growing up thinking they're fine to use, and then realising they can't get a mortgage!

BillJones

CreditCrunchie wrote: »

Why don't they just ban advertising payday loans altogether. There's an entire generation growing up thinking they're fine to use, and then realising they can't get a mortgage!

Because we don't live in North Korea, basically.

Most adverts are for something that can have negative effects on the individual, from painkillers to holidays in the sun. The philosophy tends to be that you need a very compelling reason to ban adverts in a legal product, it can't just be because disgusted of Tunbridge Wells would like it done.

GingerFurball_2

BillJones wrote: »

Because we don't live in North Korea, basically.

Most adverts are for something that can have negative effects on the individual, from painkillers to holidays in the sun. The philosophy tends to be that you need a very compelling reason to ban adverts in a legal product, it can't just be because disgusted of Tunbridge Wells would like it done.

Not true. Tobacco advertising was banned from our TV screens a long time ago and all forms of tobacco advertising have been illegal for at least 10 years.

Advertising of payday loans should be treated similarly.

[Deleted User]

used in the right way PDL are hardly a contract with the devil,as an example my high st bank now charges me £6 a day interest if i go o/d by more than £10 for more than 24 hours upto a max in any one month of £90,so in theory they could charge me an apr of more than 10,000%

CreditCrunchie

BillJones wrote: »

Because we don't live in North Korea, basically.

Most adverts are for something that can have negative effects on the individual, from painkillers to holidays in the sun. The philosophy tends to be that you need a very compelling reason to ban adverts in a legal product, it can't just be because disgusted of Tunbridge Wells would like it done.

I understand your reasoning, but most advertising is for products and services which the average person can work out is a good deal or not. PDL's are deliberately marketed at low income, younger generations who are less aware of the implications such as restricted access to mortgage products from mainstream lenders. There is hardly a comparison.

BillJones

GingerFurball wrote: »

Not true. Tobacco advertising was banned from our TV screens a long time ago and all forms of tobacco advertising have been illegal for at least 10 years.

That doesn't make what I say "not true" now, does it? If you read it again, you'll see that I said that there tends to need to be a compelling reason. The product killing a third f its users is pretty well into "compelling" I think. Payday loans fall well short of that.