THE BLOG

11
May

Google Blows Up Payday Loan Industry. Lending Club Impact

Hey PaydayLoan Biz Fan,

Google update and Lending Club implodes? This means total upheaval in our industry:
From Google today:

“To enforce the policy, those seeking to market financial products through Google’s sprawling advertising network will be required to disclose the length of the loan and the annual interest rate before they will be allowed to place ads. In addition to the broad payday loan ad ban, Google will not display ads from lenders who charge annual interest rates of 36 percent or more in the United States. The same standards will apply to sites that serve as middlemen who connect distressed borrowers to those lenders.”

My immediate interpretation? Continue Reading..