Google to Ban Ads for Payday Loans and High Interest Loans


Considering that Google has been around for decades now, it's no surprise that the majority of people use Google as their portal to the Internet. Even in these days of mobile-everything, the Google app is on Android phones and iPhones the world over, giving information like the Weather, sports scores and so on alongside the famous Google search bar. That's not all Google is known for of course, and the vast majority of their revenue comes from advertizement, and their AdWords platform is one of the biggest in the world. Which essentially gives Google something of a responsibility, and where lending is concerned, they're doing something about it.

Over on the Policy Blog, Google is detailing a change that will come into effect come July 13th, 2016. This change will rid ads of payday loans and high interest loans. For those that aren't familiar with what a payday loan is, these are essentially short-term loans that people take out in order to plug a gap before a coming payday – hence the name, payday loan. These are often marketed and, in some cases, viewed as a helpful way to cover surprise costs, but they are more often than not loans that come with huge interest rates. They also command repayment within 60 days or so, which doesn't sound too bad given the smaller amounts that people take out, but combined with high interest, things can become difficult for people quite quickly. As well as this, Google is looking to put an end to generic loans that carry an APR of 36% or higher, which should help people with decent credit to avoid huge interest on their loans.


This new policy will apply to ads in the AdWords system that Google runs, and this is part of Google's ongoing struggle to keep ads that are in poor taste or could be considered deceptive out of the system. Last year, Google says that they blocked and deleted 780 Million ads from AdWords due to phishing concerns or distasteful reasons. Considering the hardships that young people can get into regarding payday loans and high interest lending, this move will come as a welcome decision for a lot of people.

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For years now I've had a heavy interest in technology, growing up with 8-bit computers and gaming consoles has fed into an addiction to everything that beeps. Android saved me from the boredom of iOS years ago and I love watching the platform grow. As an avid reader and writer nothing pleases me more than to write about the exciting world of Android, Google and mobile technology as a whole.

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