Google to stop showing paid adverts for payday loans and guarantor loans
Last week, Google made a huge announcement that they will not longer be allowing payday lenders to advertise in the paid section of their search results. This has huge implications for the £2 billion payday loan industry in the UK (and of course the US where the policy is originated). With over 201,000 monthly searches for payday loans in the UK, the pay-per-click section is likely to be accumulating around
Read MoreBank Unauthorised Overdrafts More Expensive Than Payday Loans
Payday loans are commonly criticised in the press for being too expensive, and their sister guarantor loans also don't get off easy. Before the FCA regulation come into effect in January 2015, the payday industry charged representative APRs of 1,000% up to 6,000% - which led to a lot of backlash from MPs, journalists and religious figures. However, in reality, those loans of up to £1,000 that are supposed to
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