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<p>The Government is concerned about consumer detriment in the payday loan market,
and agrees it is important that consumers are protected from unfair costs. We therefore
legislated to require the FCA (Financial Conduct Authority) to introduce a cap on
the cost of payday loans, which came into force on the 2nd January this year.</p><p>We
believe BCAP's review of payday loan advertising provides a good evidence base to
ensure that consumers are protected from harm in the payday lending market. We welcome
the revised guidance to advertisers produced in response to this review, to help ensure
that both adults and children are protected, together with BCAPs' public consultation
on scheduling to be launched by the end of July. There are no plans to carry out a
separate Government consultation on this matter.</p>
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