Google set to ban 'harmful' and 'deceptive' ads from payday lending industry

2016-05-11 6

Google said Wednesday that it will ban all ads from payday lenders calling the industry "deceptive" and "harmful." Effective July 13, Google will no longer allow ads for loans due within 60 days and will also ban ads for loans where the interest rate is 36 percent or higher. Payday lenders have been targeted by politicians and consumer advocates who argue the industry charges extremely high interest rates to customers, who are often the poor.