Debt Collection Specialists | Sydney | LCollect
Debt Collection Agency | LCollect

Debt Collection News


Released every month our debt collection blog contains news, stories and tips to keep you informed.

Google Bans Payday Lending Advertising

Friday, May 13, 2016 - Posted by Philip Harvey

From 13 July 2016, Google will place a global ban on short-term loan advertising from its websites.

Google Director of Global Product Policy, David Graff, stated "Research has shown that these loans can result in unaffordable payment and high default rates for users so we will be updating our policies globally to reflect that.....We'll continue to review the effectiveness of this policy, but our hope is that fewer people will be exposed to misleading or harmful products."

The ban will apply to credit where repayments are due within 60 days.

This follows a recent case where ASIC forced Nimble to refund $1.6M to consumers for being not engaging responsible lending practices. Read more about this here.

The industry is under review in Australia with practices being closely examined.

Source: Google Public Policy Blog



Recent Posts


Tags


Archive

Copyright © LCollect 2019 | All Rights Reserved | Licensed Mercantile Agent License #409661517 | ABN 44 089 892 688 |
Australian Credit Licence #430659
HomeSite Information | Privacy Policy