The Government is not supporting calls for payday lending adverts to be banned during day time television. The Business Innovation and Skills Select Committee called for a ban towards the end of last
year. The MPs suggested the adverts did not make it sufficiently clear that credit ratings would suffer if loans were not paid back. It also suggested the adverts bombarded children and were
"grooming" them to become the next generation of payday loan customers.
The Government's response was that although Ofcom research is a concern, the adverts do keep within the rules
and form only just a little over a half of one percent of the total TV ads seen by children ages 4 to 15.
Read the whole story at Marketing Week »
Money loans are highly demanded by many simple individuals and business owners. Advertisement on the TV is the best place for an instant money provider to inform consumers about the product. People should have free access to useful information.
I work in the Short Term Loans industry and I do not think that Payday Loan companies should advertise on TV.