Broadcasting Standards Watchdog Ofcom have instructed payday loan company Moola to drop the character of Molly The Magical Money Fairy from television commercials aired during Children’s TV.
In the ads, a multi-coloured fairy figure flies over a grey urban landscape throwing handfuls of twenty pound notes down onto groups of children who are instantly colourised and dance with joy amidst the showers of “free money”. The terms and conditions of the service offered by the company are shown during the commercial but, ruled Ofcom, displaying the fact that most loans have 6000% interest on a small purple mushroom in a corner of the picture for 0.25 of a second was inadequate.
The managing director of Moola, Reg Slyme, commented “I’m really disappointed by the ruling. It’s almost as if people think we’re trying to take advantage of credulous, desperate people in serious financial trouble to make our rancid, tainted profits. It’s enough to make you lose faith in human nature.”