To date, Bing will not accept ads for payday advances, understood to be loans which will come due within 60 times of origination or with rates of interest greater than 36%. Customer advocates across the nation and beyond our edges are applauding your decision as one step toward protecting individuals in serious straits that are financial “solutions” that more frequently than not place them deeper with debt. Not everybody is cheering, however.
Town Financial solutions Association of America (CFSAA), which positions it self as “the only organization that is national entirely to marketing accountable legislation associated with the cash advance industry and customer defenses through CFSA’s guidelines,” was quick to condemn Google’s choice. Continue reading Google’s Cash Advance Advertising Ban: Consumer Advocacy or Censorship?