Tech giant Google is taking a bold yet altruistic stand by not allowing payday loan advertisements to show on their site. Last Wednesday the company announced that they would be permanently banning these type of advertisements because payday loans take advantage of it’s recipients (who are usually the poor or people living in low socioeconomic communities). According to Washington Post, mixed reactions have come from this global ban. Payday lender regulators are glad Google made this move (which is similar to the policy for Facebook). However, payday lenders believe this act is “unfair” due to having legal certifications and licensees to lend loans.
What’s your take on this advertise ban? Should major websites and search engines take more of a philanthropic approach by banning payday lenders or is it unfair to payday companies to ban their right to advertise? For more information on this topic click https://www.washingtonpost.com/news/the-switch/wp/2016/05/11/google-to-ban-payday-loan-advertisements/