By Seb Joseph

The Financial Conduct Authority (FCA) will assess whether a crack down on payday lenders running ads to encourage existing customers to take out more loans would help “put an end to spiraling debt”.

A ban on direct marketing including texts and emails had been proposed to the public earlier this year. However, the FCA said further investigation was needed to determine the impact a direct marketing ban would have on competition and repeat lending.

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Source: Marketing Week