Google bans ads for payday loans

As of July, Google will no longer allow ads for payday loans, TechCrunch reports. The banned ads are those that have to be repaid within 60 days, and, in the U.S., those that charge more than 36% annual interest, wrote David Graff, Google’s director of global product policy, in a blog post on the change.

“When reviewing our policies, 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,” Graff wrote.

John Oliver, of Last Week Tonight, said much the same thing back in 2014: