Today, following overview of adverts for cash advance items, our company is posting brand new Guidance to bolster the guidelines that prevent adverts trivialising the serious nature of taking right out short-term high-cost loans.
The Guidance clarifies the nature where the guidelines must be interpreted, specially the guideline that needs adverts become accountable to your market also to culture. It gives warning that is clear advertisements risk breaching this guideline should they:
- Recommend loans are a means that is suitable of ongoing economic concerns;
- Condone non-essential or spending that is frivolous or
- Unacceptably distort the serious nature of payday loan services and products.