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Dublin: 15°C Thursday 18 August 2022

Poll: Should moneylenders include 'tobacco-style' warnings in ads for high-cost loans?

Warnings often appear in the contract, rather than the ad.

Image: Shutterstock/Rihardzz

THE SOCIETY OF St Vincent de Paul has called for all licenced moneylenders to carry warnings in their advertising and literature.

In a submission to the Department of Finance, the organisation said people should be warned about high-cost loans.

Moneylenders are required to provide information about the high cost of loans but this is usually included in the agreement signed by the customer.

SVP wants such warnings to appear in ads, in a similar way to how tobacco packages have warnings.

What do you think: Should moneylenders include warnings in ads and literature for high-cost loans?  

Poll Results:

Yes (6858)
No (354)
I'm not sure (86)

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About the author:

Órla Ryan

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