(EMAILWIRE.COM, August 02, 2013 ) Manchester, UK -- Loan companies charging high interest rates or short-term loans may face the same type of advertising bans as cigarette companies, according to regulators at a Government summit. Martin Wheatley, the chief executive of the Financial Conduct Authority, said a total advertising ban was an option the group was considering after several payday lenders got in trouble recently for featuring bankrupt star Kerry Katona and and advertising nights out on the town for payday loans.
The regulations are set to take in effect for the industry in April of next year, but charities and consumer groups say the advertising ban could be matched with tougher action on interest charges. The government has known for a while that there are several deep-rooted problems within the industry, including outrageous interest rates and poor customer service.
While Wheatley did not rule out a total ban on advertising, similar to that of tobacco companies, or tighter restrictions such as when, where, and what they could include on their advertisements, he made it clear that the Financial Conduct Authority will be making changes to the industrys regulations and mentioned that there were many concerns about the advertisements appearing on daytime televisions, as if the companies were targeting unemployed and vulnerable viewers.
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Swift Money (http://www.swiftmoney.org/) provides quick, easy access to money you need from the comfort of your own home while adhering to all lending laws and practices to be one of UKs most reputable payday lender. With access to over 20 of the most established lenders in the nation, SwiftMoney can get you the cash you need in as little as 24 hours. Visit the website today and apply for a payday loan to get you over your financial bump.
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The regulations are set to take in effect for the industry in April of next year, but charities and consumer groups say the advertising ban could be matched with tougher action on interest charges. The government has known for a while that there are several deep-rooted problems within the industry, including outrageous interest rates and poor customer service.
While Wheatley did not rule out a total ban on advertising, similar to that of tobacco companies, or tighter restrictions such as when, where, and what they could include on their advertisements, he made it clear that the Financial Conduct Authority will be making changes to the industrys regulations and mentioned that there were many concerns about the advertisements appearing on daytime televisions, as if the companies were targeting unemployed and vulnerable viewers.
About SwiftMoney.org
Swift Money (http://www.swiftmoney.org/) provides quick, easy access to money you need from the comfort of your own home while adhering to all lending laws and practices to be one of UKs most reputable payday lender. With access to over 20 of the most established lenders in the nation, SwiftMoney can get you the cash you need in as little as 24 hours. Visit the website today and apply for a payday loan to get you over your financial bump.
Customer Service
0800 567 7444
support@swiftmoney.org
Source: EmailWire.Com