Citing the need to protect users from deceptive and harmful financial services products, Google announced Wednesday that they are banning payday loan ads as of July 13th of this year.
The payday loan ads ban effects products whose repayment is due 60 days from the date of issue. This global policy change will not only impact new advertisers attempting to sign up for AdWords, but will, seemingly, cause existing advertisers’ ads to be systematically declined on or after July 13th as well.
In the US, Google is taking the ban one step further, by also banning ads for loans with an APR above 36%. The new policy is not designed to impact companies offering loans for mortgages, autos, commercial investments, education, or credit cards.
A complete list of updated Google AdWords advertising policies can be viewed here.