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Plymouth council slaps billboard advert ban on payday lenders and blocks them on its computer network
Payday loan firms are banned from advertising on billboards and bus shelters in Plymouth following a clampdown by the city council. Computer access to 50 of the most popular payday loan websites is also being blocked across the council's entire network, including in libraries and community centres. Plymouth's local authority says it is acting to 'protect residents from sky high interest rates that lead to spiralling debt'. But a payday lender body accused it of denying choice to local residents without understanding the industry or the way people are managing their finances in 2013. 'Research shows that 85 per cent of payday customers have no trouble paying back their loans, so the council's belief that the loans are detrimental to those that take them is misplaced and not based on evidence,' said Russell Hamblin-Boone, chief executive of the Consumer Finance Association.....Read More HERE
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