read

Google AdWords Ad Policy Change Has Major Implications for Payday Lending Industry

Today, Google AdWords announced a change to their advertising policies that will affect any business that is promoting personal loans. This means lenders and lead generators, aggregators, and affiliates who promote these products.

Beginning on July 13th, all promotion of personal loans on Google Adwords must disclose the following on the landing page:

  • minimum and maximum period for repayment
  • maximum Annual Percentage Rate (APR), which includes the interest rate plus fees and other costs for a year
  • a representative example of the total cost of the loan, including all applicable fees

Additionally, advertisers won’t be allowed to promote personal loans with the following conditions:

  • Repayment in full within 60 days (globally including US)
  • An APR over 36% (US only)

Advertisers will be required to comply with the new AdWords Financial Services policy around early July—otherwise their ads will not be shown. 

Learn about how you can monitor your business’s landing pages for compliance with these new rules.
 

 

PerformLine-Demo-Request

Tags: Regulatory Compliance

Understanding and complying with UDAAP policy can be a challenge

Download this guide to learn what every company should know to reduce exposure to Unfair, Deceptive or Abusive Acts and Practices (UDAAPs) and other common compliance violations.

UDAAP-e-book-1