To date, Bing will not accept ads for payday advances, thought as loans which will come due within 60 times of origination or with rates of interest greater than 36%. Customer advocates round the nation and beyond our boundaries are applauding your decision as one step toward protecting individuals in serious economic straits from “solutions” that more frequently than not placed them deeper with debt. Not everybody is cheering, though.
Town Financial solutions Association of America (CFSAA), which positions itself as “the only national company committed entirely to advertising accountable legislation associated with pay day loan industry and consumer defenses through CFSA’s guidelines,” was quick to condemn Google’s choice. Read more “Google’s Pay Day Loan Advertising Ban: Consumer Advocacy or Censorship?”