21 1 月 Bing had been straight to get tough on cash advance advertisements — and today, other people should follow suit.
But technology organizations can’t fix lending that is predatory on their own.
G oogle announced that it will soon ban ads for payday loans wednesday. To get more with this change, see one of these simple numerous exceptional news tales.
My colleagues and I also at Upturn are section of a varied coalition of advocates that caused Bing with this policy that is new. Upturn published a study last autumn, Led Astray, that explained the internal workings of cash advance advertising, and assisted spark the discussion that resulted in this week’s change.
I think Google made a great call as you might expect. Here’s why:
Problem 1: Payday loans hurt much more than they assist, and disproportionately influence minorities and also the bad.
A longstanding human body of studies have shown that payday advances — small-dollar, short-term credit services and products with high interest levels — are bad for many borrowers’ monetary wellness.