Google Announces banning Pay Day Loan Advertising as from 13 July 2016.
Google recently announced on their blog that they will no longer accept pay day loan lenders ads (advertisement) on their Adwords Platform. The statement did not make any distinction by countries. Google will not ban pay day loan search unless it violates their policy in someway or other. Meaning people will still be able to search pay day loans and return results on Google.
Why is Google banning Pay Day Loans Advertising ?
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% 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. This change is designed to protect our users from deceptive or harmful financial products and will not affect companies offering loans such as Mortgages, Car Loans, Student Loans, Commercial loans, Revolving Lines of Credit (e.g. Credit Cards).