British Lender in Hot Water For Email Promoting Irresponsible Borrowing

British financial institution Pounds to Pocket has gotten into trouble with The Advertising Standards Authority for sending an email that promoted irresponsible money borrowing. The happy birthday email encouraged recipients to apply for a loan to celebrate their birthday "worry-free" and even offered a 20 percent bonus on the first payment for anyone that applied the day they received the email. The ASA criticized the email saying that taking out a loan required thoughtful consideration and therefore offering a promotion on quick actions was irresponsible of the lender.
Read the whole story at Belfast Telegraph »
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1 comment about "British Lender in Hot Water For Email Promoting Irresponsible Borrowing".
  1. Anna Daisy from Brillians , December 6, 2014 at 9:10 a.m.
    I don’t see anything criminal in that promotion but of course, ASA knows better what is right and what is wrong concerning the advertisement rules. But is that so wrong that lending company promotes lending service in the email? And actually, what is called an irresponsible lending? Today there is a variety of lending products and credit services available so consumers have a good choice. Probably, they mean that products provided by cash advance lenders irresponsible but I think that in this case responsibility is something depending on a client.