By John Glenday

The Advertising Standards Authority (ASA) has moved to outlaw a contentious payday loan advert from Wonga following concern that it was sowing confusion amongst the public as to the interest rate charges it levies on customers.

Hackles were raised by the piece which depicted two puppets debating the cost of a Wonga short-term loan and implying that a representative APR of 5853 per cent was ‘irrelevant’.
In the advert the characters said: “Some people think they will pay thousands of per cent of interest. They won’t of course – that’s just the way annual rates are calculated. Say you borrowed £50 for Read full story ›

Source: The Drum