Outcome of BCAP payday loans scheduling consultation
The advertising of high-cost short-term credit (HCSTC) has attracted concern across society, including Government, media, consumer protection bodies and the public, particularly as the use of HCSTC became more prevalent during the economic downturn. Broadcast Committee of Advertising Practice (BCAP) have closely monitored these concerns to ensure that they provide proportionate levels of protection for consumers, particularly the vulnerable, while allowing advertisers to reach a legitimate adult audience.
Following public consultation, and an extensive and carefully-considered review process leading up to it, BCAP have decided not to introduce scheduling restrictions on the advertising of HCSTC. However, they have decided that a further review of the content of HCSTC ads is needed to ensure that the rules remain fit for purpose in light of the current market and regulatory framework.
Regulatory statement and terms of reference for content review can be found below.
Regulatory statement (PDF)
Consultation document (PDF)
Source: Committee of Advertising Practice website
Related: CMA recommendations on HCSTC