{"id":13020,"date":"2016-05-14T13:01:29","date_gmt":"2016-05-14T06:01:29","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-cheers-for-googles-ban-on-payday-loan-ads\/"},"modified":"2016-05-14T13:09:47","modified_gmt":"2016-05-14T06:09:47","slug":"two-cheers-for-googles-ban-on-payday-loan-ads","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-cheers-for-googles-ban-on-payday-loan-ads\/","title":{"rendered":"Two cheers for Google\u2019s ban on payday loan ads"},"content":{"rendered":"


\nThe search engine\u2019s ban on payday firms charging more than 36% APR is a start, but it needs to do more for the full three cheersSuccessive British governments refused to cap super-high interest rates, which is how we allowed Wonga to charge its poor borrowers up to 5,853%. Then this week Google shocks everyone by banning adverts for payday loans above 36% APR. It tells you a lot about who really runs the world today.The search engine giant is not banning the products itself, and they may still appear on results pages. It also looks as if the 36% may only apply to the US, but however it works this is a big blow to the pricey loan peddlers. I typed \u201cinstant loan\u201d into Google this week, and three out of the four ads, taking up most of the top half of the screen, were from payday loan companies pushing loans at more than 36%: AvantCredit at 39.5%, Sunny at 979% (that will wipe the smile off anyone\u2019s face), and UK Loans, which had Satsuma at 1,575%. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Two cheers for Google\u2019s ban on payday loan ads<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The search engine\u2019s ban on payday firms charging more than 36% APR is a start,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-13020","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-3o0","jetpack-related-posts":[{"id":12726,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dangerous-payday-loans-join-guns-and-drugs-on-googles-banned-ad-list\/","url_meta":{"origin":13020,"position":0},"title":"'Dangerous' payday loans join guns and drugs on Google's banned ad list","date":"May 12, 2016","format":false,"excerpt":"\r $46bn industry banned from advertising on most visited site in the worldLenders use extremely high interest rates and target vulnerable peopleGoogle announced a ban on search ads from payday lenders on Wednesday, classifying them in their \u201cdangerous products\u201d category with guns, tobacco and explosives. Banning ads from payday lenders\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77702,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/legalized-loan-sharking-payday-loan-customers-recount-their-experiences\/","url_meta":{"origin":13020,"position":1},"title":"'Legalized loan sharking': payday loan customers recount their experiences","date":"January 22, 2018","format":false,"excerpt":"\r The Consumer Financial Protection Bureau has ordered a review of rules on short-term loans. Three customers say companies lured them into a trapMick Mulvaney, White House budget director and interim director of the Consumer Financial Protection Bureau, recently announced a review of rules on payday loans. Payday loan companies\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66762,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/payday-loan-caps-come-into-force\/","url_meta":{"origin":13020,"position":2},"title":"Payday loan caps come into force","date":"January 2, 2015","format":false,"excerpt":"\r New regulations introduced by the FCA mean loans will now be capped at 0.8% a day, as over 1 million borrowers benefitWell over a million people will see the cost of their borrowing fall now that new price caps on payday loans have taken effect.However, early indications are that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14446,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/payday-loan-complaints-to-financial-ombudsman-nearly-triple-in-a-year\/","url_meta":{"origin":13020,"position":3},"title":"Payday loan complaints to financial ombudsman nearly triple in a year","date":"May 26, 2016","format":false,"excerpt":"\r PPI remains most complained-about financial product and more consumers are unhappy about fee-charging bank accounts, review findsComplaints to the financial ombudsman about payday loans have almost tripled in a year, despite tougher regulation of the controversial sector, figures show. Continue reading...\r \r Source : theguardian.com\r Read more...Payday loan complaints\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15236,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/us-proposes-new-rules-for-payday-loan-industry-to-curtail-borrower-debt\/","url_meta":{"origin":13020,"position":4},"title":"US proposes new rules for payday loan industry to curtail borrower debt","date":"June 2, 2016","format":false,"excerpt":"\r Consumer Financial Protection Bureau seeks to require lenders to check if people can afford to repay as critics accuse agency of ignoring credit needs of poorThe US government announced plans on Thursday to regulate the controversial $38.5bn payday loan industry. Regulation of the high-interest, low-dollar loan industry has until\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":49777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/payday-loan-industry-using-former-labor-shadow-minister-as-lobbyist\/","url_meta":{"origin":13020,"position":5},"title":"Payday loan industry using former Labor shadow minister as lobbyist","date":"March 27, 2017","format":false,"excerpt":"\r Bernie Ripoll helping National Credit Providers Association argue against stronger protections for borrowersThe payday loan industry is using Labor\u2019s former shadow financial services minister to lobby against stronger protections for vulnerable and low-income borrowers.Consumer advocates have put pressure on the government to act on a promise to tighten regulation\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/13020"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=13020"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/13020\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=13020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=13020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=13020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}