FCA finds 20% of loan and credit companies' ads break advertising rules

Payday loans

Financial watchdog finds more than 100 ads of the 550 checked fail to be ‘clear, fair and not misleading’

One in five adverts from loan and credit companies are guilty of failings such as misleading customers, according to an investigation by the City regulator.

The Financial Conduct Authority said tactics being used by some payday lenders included “targeting young audiences” with branded colouring-in sheets, even though these loans are products that consumers must be over 18 to use.

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