Google on Wednesday announced that it would ban advertising for payday loans in its ad systems. Starting July 13, the company will prohibit ads for payday loans and related products where funds are due within 60 days of the date of issue, as well as ads for loans with an APR of 36 percent, said Google’s David Graff. “When reviewing our policies, research has shown that these loans can result in unaffordable payment and high default rates for users, so we will be updating our policies globally to reflect that.”
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Google Boots Ads for Predatory Payday Lenders
Posted by: David Jones May 12, 2016 02:37 PMGoogle on Wednesday announced that it would ban advertising for payday loans in its ad systems. Starting July 13, the company will prohibit ads for payday loans and related products where funds are due within 60 days of the date of issue, as well as ads for loans with an APR of 36 percent, said Google’s David Graff. “When reviewing our policies, research has shown that these loans can result in unaffordable payment and high default rates for users, so we will be updating our policies globally to reflect that.”