Wonga ad banned for showing ‘irrelevant’ APR rates
A TV ad for payday loans company Wonga has been banned by the Advertising Standards Authority (ASA) because it wasn’t clear what interest rates would be applied to loans.
A total of 31 complaints were received for the ad, which featured an exchange between two puppet characters who stated, “Right, we’re going to explain the costs of a Wonga short-term loan” and on-screen text displaying different PA and APR interest rates.
Most of the complaints received by the ASA challenged whether the ad was misleading, because it confused as to the interest rate applied to a Wonga loan.
Some challenged Read full story ›
Source: The Drum
