The Financial Services Authority (FSA) has been slammed by Which? magazine for not clamping down on advertisements from debt companies they call ‘misleading’.
The publication has been critical of the FSA in the past, but is particularly worried about the rise in advertisements offering ‘quick-fix’ solutions to debt problems.
Louise Hanson, head of campaigns at Which? said, "The FSA has had a busy time and yet many of the major challenges in the retail financial area have left consumers exposed. We believe they have not been open and transparent enough in robustly challenging the industry."
In response to the accusations, the FSA has said that it’s doing the utmost it can to boost know-how and ensure more clear advertisement.