Google Prohibits Payday Lending Ads, Buys Payday Lender

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Google Prohibits Payday Lending Ads, Buys Payday Lender

Google's "do no evil" mantra and the company's sometimes arbitrary actions have been called into question time and again.

Effective July 13, 2016, Google implemented a new policy that prohibits payday lending companies from advertising on Google AdWords. Any lender offering loans which require repayment within 60 days, or with an APR of 36 percent or more, will no longer be allowed to advertise on Google, a move that will no doubt put many of the smaller payday lenders out of business.

Few would argue that payday lenders are a benevolent group of people, but like them or not, they do operate legally, and this raises a question on how heavy-handed Google should be allowed to be in prohibiting legally operating companies from using what amounts to a monopoly service, without which an otherwise legal business is likely to fail.

By: Dan Blacharski