Google banning payday loan ads

Google brings down the banhammer on advertisements for payday loans, high APR loans.

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Google is banning payday loan ads which require borrowers to pay back money within 60 days, as well as ads for loans with an annual percentage rate (APR) of 36% or more. As of July 13, they won't be seen on sites served by AdSense, or at least they'll be seen less (Google says it will monitor the effectiveness). Advertisements for mortgage loans, car loans, student loans, commercial loans, and credit lines won't be affected.

Google banning payday loan ads | TweakTown.com

The company states such services and advertisements are predatory and can result in borrowers ending up in a worse financial situation than before they took out the loan, a sentiment echoed by others.

"This new policy addresses many of the longstanding concerns shared by the entire civil rights community about predatory payday lending," says Wade Henderson, president and CEO of The Leadership Conference on Civil and Human Rights. "These companies have long used slick advertising and aggressive marketing to trap consumers into outrageously high interest loans - often those least able to afford it."

Google says it has disabled more than 780 million "bad ads" in 2015 alone.

Sean has a background in journalism, and has been using that to write about gaming and tech since 2008 - first for Neoseeker, then Rage3D, and now, TweakTown. As Weekend News Editor, Sean's job is to supply regular stories on the latest happenings in the tech world over the weekend.

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