Google pulls the plug on payday loan ads – Digital Minute 17/05/16
Hello and welcome to Digital Minute. This week we’re looking at Google’s decision to put a ban on payday loan ads. Google has confirmed that as of July 13th, it will be banning payday loans from its advertising services, which it claims will protect users from “harmful” lending. The ban will come into force worldwide, and will apply specifically to loans where repayment is due within 60 days of issue. In the US, the ban also applies to any loan with an APR of 36% or more. This could see other forms of sub-prime finance being banned from Adwords and Google Display network. With the payday loan market being so heavily scrutinised in recent years, this could have a significant impact on a lot of these operators. Previous algorithm updates in this sector forced many lenders to turn to paid search and, with that avenue set to close, we’ve looked at what this would mean for brands over on the blog. And whilst you’re there – make sure you check out our latest E-Book. Thanks for watching, I’m Laura Dunleavy and that was your Digital Minute.