Review finds 66% of credit union ads breach compliance rules

Review finds 66% of credit union ads breach compliance rules

A review of advertising standards in the financial sector has found that just one third of credit union advertisements were in compliance with consumer regulations.

The Central Bank examined print, radio, TV and online ads by five banks, four moneylenders and 14 credit unions.

While the vast majority of banks and moneylenders complied with credit advertising codes, two-thirds of the credit union ads that were reviewed were not in compliance.

The Central Bank has contacted all firms who breached the code asking them to amend the ads to make sure they provide clear, concise information about the financial products in question.

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