‘Stop payday adverts aimed at kids’

A charity that spends much of its time helping people with severe debts has urged people to complain to the regulator about “irresponsible” advertising.
Citizens Advice said it was time to crack down on those high-rate lenders that market their products while children are likely to be watching television.
“It is utterly unacceptable for payday lenders to be running adverts that appeal to children,” said Gillian Guy, the charity’s chief executive.
“More and more adverts are appearing on music channels and TV stations popular with teenagers and young people as lenders try to entice the next generation of borrowers.
“Citizens Advice Bureaux up and down the country are helping people get their finances back on track after they’ve been devastated by payday loans which have been bumped up by high interest rates and fees.”
Ms Guy called on viewers to report “irresponsible or misleading” advertising to the Financial Conduct Authority (FCA).
She added: “The FCA needs to introduce a clear and concise health warning on payday loan marketing which spells out the consequences of taking out a payday loan, and to stop payday lenders targeting children with advertising.”


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