Bishop of St Albans presses Government on taking action against payday loan advertising (Written Questions)

The Lord Bishop of St Albans: To ask Her Majesty’s Government, in the light of the Ofcom’s publication Trends in Advertising Activity—Payday Loans, published in December 2013, what assessment they have made of the impact on children between four and 15 years old of the number of payday loan advertisements to which they are exposed.

The Lord Bishop of St Albans: To ask Her Majesty’s Government, in the light of Ofcom’s publication Trends in Advertising Activity—Payday Loans published in December 2013, what assessment they have made of the increase in the number of payday loan advertisements watched by children aged four to 15 years old over the past four years; and whether they have any plans to address the situation.

The Lord Bishop of St Albans: To ask Her Majesty’s Government, in the light of Ofcom’s publication Trends in Advertising Activity—Payday Loans published in December 2013, what assessment they have made of the frequency and impact of payday loan advertising viewed by children on non-children’s television channels.

The Lord Bishop of St Albans: To ask Her Majesty’s Government, in the light of Ofcom’s publication Trends in Advertising Activity—Payday Loans published in December 2013, whether they plan to commission research into the impact of payday loan advertisements on young peoples’ attitudes to the responsible use of money.

The Commercial Secretary to the Treasury (Lord Deighton): Payday loan adverts are subject to the Advertising Standards Authority’s strict content rules. The ASA will not hesitate to ban irresponsible adverts, and has a strong track record of doing so.

The Broadcast Committee of Advertising Practice (BCAP), the body that writes the Broadcast Advertising Code, is considering Ofcom’s research and the extent to which payday loan advertising features on children’s TV, and whether there are any implications for the ASA’s regulation of this sector.

Separately, the Financial Conduct Authority is consulting on new rules for consumer credit adverts, including proposals to introduce mandatory risk warnings and signposting to debt advice. It has powers to ban misleading adverts which breach its rules.

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