Deals from low-income loan providers to be investigated
The marketing practices of companies that target low-income consumers are to be examined by the financial regulator as it clamps down on misleading advertising.
The Financial Services Authority is to look at promotions from sub-prime lenders, which sell to consumers rejected by mainstream banks and debt consolidation companies.
Debt consolidation companies encourage low-income consumers with several loans to consolidate their debts into one larger loan.
The FSA is also looking at equity release companies and mortgage lenders to check their advertisements are not misleading.
Last year, the regulator set up a 30-strong team to monitor adverts amid concerns consumers were being mis-sold products.
Read More...
The marketing practices of companies that target low-income consumers are to be examined by the financial regulator as it clamps down on misleading advertising.
The Financial Services Authority is to look at promotions from sub-prime lenders, which sell to consumers rejected by mainstream banks and debt consolidation companies.
Debt consolidation companies encourage low-income consumers with several loans to consolidate their debts into one larger loan.
The FSA is also looking at equity release companies and mortgage lenders to check their advertisements are not misleading.
Last year, the regulator set up a 30-strong team to monitor adverts amid concerns consumers were being mis-sold products.
Read More...
posted by Mohd Amin | 9:30 PM
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