Google Bans Payday Loans as Too Harmful to Advertise

June 25, 2016 Google announced that it would ban ads for payday lenders (and similar services) starting on July 13. In a statement, David Graff, the company’s director of global product policy wrote:

We will no longer allow ads for loans where repayment is due within 60 days of the date of issue. In the U.S., we are also banning ads for loans with an APR of 36 percent or higher. 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.

Graff added that the new policy “is designed to protect our users from deceptive or harmful financial products,” and will still leave room for companies to advertise mortgages, car loans, student loans, and credit cards.  Read more…

As additional information read the article “Feds Payday lender charged 700% interest”… read more

The post Google Bans Payday Loans as Too Harmful to Advertise appeared first on Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney.