Google seeks to ban ads for loans

Google has decided to ban "flexible loan" sites that promised the user to be able to take out a credit with high possibilities and few requirements. This decision was made by the company since they foresee a high rate of indebtedness on the part of the users who carry out said loan.

Google seeks to ban ads for loans

In this way Google seeks to take care of its users from possible scams and indebtedness without reason, these credits that are granted with high interest rates such as advertisements where an annual interest of 36% or more was required in the United States and those where the term of the same will last 60 days or less.

This will take place from July 13, 2016 onwards, "We will ban the advertising of easy credits and certain related products in our advertising systems, " Google highlighted in its official announcement. Many of these loans had confusing operating systems, since they requested for the advance of the sum of money that the user must authorize that the money to pay said installments be automatically withdrawn from their bank account.

The system used by these websites generates confusion and great financial vulnerability for the user who accesses said loan, gaining access to the assets of each individual. '' This change seeks to protect our users from misleading or harmful financial products, and will not affect those companies that propose real estate, commercial loans or renewable lines of credit (credit cards), Google said in its statement.

This proposal had the approval of the users and praise from the different associations of consumer rights and civil rights. "This partnership has long used deceptive advertising and aggressive marketing to get consumers into the high-rate loan trap and in many cases for those who can't afford it, " added Wade Henderson, president of the Leading Conference on Rights. Civil and Human.