Wonga along with other pay day loan companies should be prohibited from signing major business sponsorships with Transport for London (TfL), after the very criticised deal with Wonga for brand new 12 months’s Eve 2010.
TfL usually offers revellers free travel on London buses while the London Underground between 11:45pm on brand New 12 months’s Eve until 4:30am on brand brand New 12 months’s time as an element of a handle a sponsor that is corporate.
Wonga ‘s deal to sponsor the travel that is free brand brand brand New 12 months’s Eve 2010 had been very criticised for providing the business very prominent marketing failing woefully to show the typical APR of the Wonga loan, that is 4,214%.
Boris Johnson, Mayor of London, defended the offer as a result to your critique. He stated: “We make no ethical judgments about genuine companies that buy ad room or sponsorship.”
Nevertheless, businesses such as Wonga came under increasing stress in current months and today TfL has suggested you won’t do deals that are similar pay day loan businesses later on.Read More »TfL excludes loan that is payday from a lot of money sponsorships