In just a few weeks, online advertising of usurious loans will be much more difficult. Google has decided to block ads displayed on the search engine for this type of service. The company has announced that the blockade deals with companies offering short-term loans at high interest rates.
Sometimes it happens that we do not have enough for our next paycheck and we need to rescue a loan that will allow us to survive. Difficult situation is very willing to use then all kinds of loan companies, offering money for short terms for huge interest rates of up to several thousand percent per year.
The most common form of customer acquisition by such companies is online advertising, and many of them buy out Google search ads, thus reaching millions of customers around the world.
Soon, however, such a form of service promotion will become impossible. Mountain View Company has announced that it will block ads from companies that provide loans for up to 60 days from June 13th around the world. In addition, businesses in the United States will be blocked from paying an annual interest rate of more than 36 percent on loans.
David Graff, director of product policy at Google, wrote on the company’s official blog that Google is trying to protect its users, as such loans use human weaknesses and can put them in serious trouble.