Google has updated its AdWords policy on lending products and taken an ethical stand against those who offer quick loans with astronomically high APRs, by effectively banning them from paid search.
As of July 13th 2016, Google will no longer run ads for loans where repayment is due within 60 days of the date of issue. In the US Google is also banning ads for loans with an APR of 36% or higher.
According to AdGooroo, this will mean Google forfeiting $34.5 million in advertising revenue as a result of its new ban.
4,211 advertisers sponsored 726 payday loan keywords on US Google desktop search last year, at an average cost per click of $5.32.
As the top advertiser on the 726 payday loan keywords, MoneyMutual spent nearly $2.7 million with Google on that keyword group alone in 2015.