Today, Google announced that effective July 13, they will no longer display ads for payday loan companies. The decision was made based on the fact that the loans offered by these organizations generally do more harm than good for consumers.
“We will no longer allow ads for loans where repayment is due within 60 days of the date of issue,” wrote Google product policy director David Graff in a blog post.
“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.
The ban is also extended to American companies offering loans with an annual percentage rate (APR) of 36 per cent or higher.
Read more here:
http://www.theverge.com/2016/5/11/11656088/payday-loan-ads-banned-from-google
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