Lenders that prey on vulnerable Facebook youngsters must be stopped

May 2008
Mortgage Strategy;5/19/2008, p34
Trade Publication
The article reports on the complaint of the Charity Credit Action to the Office of Fair Trading (OFT) in Great Britain over the use of Facebook by credit companies in promoting cheap loans to individuals with poor credit rating and thus violating advertising laws. It articulates that the information given is misleading, advocating a knock-down price and eventually giving an impossible security interest targeting the young people who have little experience in managing their financial affairs.


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