In a blog post on Wednesday, Google announced an update to its Adwords policy on Lending Products.
Starting 13th July, 2016: Google will ban ads for payday loans and some related products including loans with repayment due within 60 days of the issue and ads for loans with an APR of 36% or more.
Google stated, “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).”Google AdWords Not To Show Payday And High Interest Loans!,