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Payday lenders facing stiffer rules on lending

June 22nd, 2009
Advertising Regulations
 
The Advertising Standards Authority (ASA) have recently put price comparison and online loan sites under closer scrutiny. The industry watchdog has said that the introduction of new regulations provides the advertiser with stronger guidelines, designed to ensure clarity and give the consumer a clearer idea of costs involved. Online Payday loans have attracted particular attention, with concerns raised regarding some of the APR’s (Annual Percentage Rate) certain payday loan sites have charged.
 
More Transparent Advertising
 

Unscrupulous lenders have received accusations of misleading advertising, preventing people from understanding the true cost of the online loan. Simple Payday are pleased to say that they approve of the tightening in advertising regulations, and realise that payday loans are not suitable in all financial situations. Instead it is recognised that the payday loans provided can help those who require quick cash for unexpected financial emergencies, and can provide a useful bridge till payday. With this in mind we make sure that all the relevant information is clearly and easily found – Simple.

 

Payday Loans UK

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