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Is Google Picking on the Payday Lending Industry? PDF Print E-mail
Wednesday, 25 May 2016
As of 13th July, Google will ban ads promoting short term loans which is “designed to protect our users from deceptive or harmful financial products.” Daniel O’Boyle, Director at Provenir, the provider of risk analytics and decisioning solutions, doesn’t believe this is necessarily a fair move. “Over recent years a raft of targeted regulations has been introduced to make the industry more transparent, fair and affordable, so if regulators are satisfied, then why not Google? Not taking into account regulators, any self-aware lenders realise that lending to debt ridden customers is not a long lasting business model.” 

“There’s a bigger point to make. It’s estimated that 2.5 billion people don’t have a credit rating and for these people short term loans are a practical, quick and clearly-communicated way of accessing much needed credit."

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