Google will no longer publish advertisements from companies offering short term loans with high interest rates.
The company posted a blog announcing it will cease accepting submissions from the so-called ‘payday loan’ purveyors as of July 13.
Under the new guidelines, loans with terms shorter than 60 days will no longer be featured.
Likewise, any loan charging an interest rate upwards of 36 per cent will be banned.
Google says the payday loans ban be harmful and its hoping to protect its users from the traps of unaffordable payments.
Related: Google I/O 2016: What to expect?
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“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).”
Is Google right to ban these advertisements from search results?
If so, what else would you like to see get the chop? Share your thoughts in the comments section below.
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Editorial independence
Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
