MPs Call To Ban Payday Loan Adverts From Children's TV

Payday loan advertising on children's television should be banned, a committee of MPs have said.

A report from the Business Select Committee says that exposing children to adverts for payday loans could foster the idea that loans were "fun, easy and an appropriate way to access finance".

However, one of the major lenders, Wonga, said the idea that they advertised on children's channels and programmes a "myth".

In a report by the BBC, they reported that Ofcom, the TV regulator, revealed that in 2008 some three million payday loan adverts were seen by children aged four to 15, rising to 596 million in 2012.

However, the figures show that just 3% of these adverts were on children's channels, the equivalent to two per child over the year.

It is understood that while "irresponsible" payday loan ads can be banned, legislation would be needed to impose an outright ban.


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