A Wonga commercial featuring its notorious puppets has been banned by the advertising regulator for failing to disclose the payday lender’s high interest rate.
The Advertising Standards Authority ruled Wonga’s advert breached its guidelines following a complaint from Citizens Advice, one of Wonga’s most vocal critics.
The ban follows last week’s ruling from the City regulator, which ordered Wonga to write off outstanding balances on loans to 330,000 customers.
The advert featured an “anxious-looking man sitting in a cafe jotting down figures on a napkin”, the watchdog explained. “He looked at his phone, which showed a calculator screen and the number £153.79. This image dissolved and was replaced by an animation of an elderly lady who said ‘You appear to be in a financial quandary,