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All lenders of bad credit payday loans in Australia need to know that according to Regulatory Guide 234, with regards to the content of the headlines used in their loan lending advertisements not to be misleading, if warnings, disclaimers and qualifications are required, they should not be inconsistent with other content in the advertisement, including any headline claims. They should also have sufficient prominence to effectively convey key information to a reasonable member of the borrowing audience on first viewing of the advertisement. Information is less likely to be noticed and understood if it is in fine print, contained within a dense block of text, only shown on television or a computer screen for a brief period, or placed where there is distracting content shown simultaneously. Lenders of bad credit payday loans in Australia need to be aware that statements referring the borrower to another website or webpage, or a document such as a PDS, prospectus or contract, will not be sufficient to correct a misleading or deceptive headline claim. As an example of an advertisement that showed benefits only available to new customers, ASIC historically dealt with a case where a bank advertised an account as being free of monthly account keeping fees for borrowers depositing at least two thousand dollars per month. ASIC was concerned that the advertisements created the impression that the initiative to remove monthly service fees applied automatically to existing account holders when this was not the case. ASIC accepts the fact that loan lenders of bad credit payday loans in Australia do, from time to time, offer special promotions that only apply to new borrowers. It is important, however, that advertising clearly states whether an offer is available to existing borrowers as well and if so, how. In the above example the bank agreed to take a number of steps to ensure that its existing borrowers had not been misled, including writing to all of them. Qualifications and warnings to be included in an advertisement are that if, for example, and this does not specifically apply to loan lenders, the headline claim for a superannuation fund that members pay a low administration fee of one hundred and four dollars per annum is prominently qualified by a statement that other fees and charges apply to the related PDS, borrowers will immediately be aware that the administration fee does not represent the only cost. On the other hand, if the headline claim is qualified only by a statement suggesting that borrowers refer to the respective PDS, borrowers will have no reason to suspect that other costs will be incurred. Visit Bad Credit Payday Loans Australia to apply for online bad credit payday loans in Australia.
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