Payday loan ads face new controls

Source BBC News@ tienganhvui.com

3 October 2013 Last updated at 02:08 ET

Payday lenders could see some products banned under new proposals

Payday lenders could be forced to place "risk warnings" on their adverts to advise borrowers about the dangers of debt.

It is one of several new rules being proposed by the Financial Conduct Authority (FCA) to protect consumers.

Under the plans, the FCA would also be able to ban any loans, or adverts, that it did not approve of.

The payday loans industry said it would welcome the changes if they help protect consumers.

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