Payday Loan Ban Could Cost TV and Radio Stations €3.6 Million (1)
A plan by the Ministry of Economic Affairs to ban quick and payday loan advertising on television and radio would cost the stations roughly 3.6 million euros, said the Association of Estonian Broadcasters.
Toomas Vara, the head of the association, told Eesti Päevaleht the plan would have an unproportionally large financial effect.
“Banning ads on a legal activity is crazy, instead of regulating the accessibility of loans and measures of fast loan companies,” he said.
Tea Danilov said the bill would infringe on the principle of a free economy, but would benefit consumers.
The bill could be discussed by the government already this week.