skip to main content
skip to newscasts

Friday, March 29, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

The latest on the Key Bridge collapse, New York puts forth legislation to get clean energy projects on the grid and Wisconsin and other states join a federal summer food program to help feed kids across the country.

view newscast page
play newscast audioPlay

Republicans float conspiracy theories on the collapse of Baltimore's Key Bridge, South Carolina's congressional elections will use a map ruled unconstitutional, and the Senate schedules an impeachment trial for Homeland Secretary Mayorkas.

view newscast page
play newscast audioPlay

Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

Google Takes a Pass on Payday Loan Ads

play audio
Play

Thursday, May 19, 2016   

Nashville, TN - Starting in July, Tennesseans need of quick cash won't see ads from payday lenders on Google. The search engine giant is changing its policy and prohibiting ads from lenders with quick payoff deadlines and high interest rates. Facebook already has a similar policy. Comments from Charlene Crowell, communications manager, Center for Responsible Lending.

Payday loans are still legal in Tennessee, but soon you won't see ads from high-interest lenders when you're surfing on Google. The global search engine says it's no longer accepting advertising for loans with payoff deadlines of 60 days or less and high interest rates. The policy will take effect on July 13th, and Charlene Crowell with the Center for Responsible Lending says the online giant's announcement could have a domino effect.

"Google is considered by many people to be a global leader in search engines, and the fact that they will begin banning ads for payday loans and other loans is just huge."

Experts say removing payday lenders' ability to advertise also removes the temptation for a market of people often desperate for cash. Payday lending is allowed in Tennessee and 37 other states, although the ads were also showing up in states where the practice is illegal, such as North Carolina. Opponents of Google's policy change say it is discriminatory and that payday loans are among the only options for some consumers.

People will still be able to find payday lenders by doing a standard Google search, but the ads that appear on-screen will not show results-driven marketing for these loan products. Crowell says with the high interest rates and quick payback periods, payday loans aren't winning propositions for most.

"Those who borrow are also more likely to become delinquent on other bills, delay medical care and in the worst scenarios, wind up filing for bankruptcy."

There is discussion at the federal level to limit the amount of interest payday lenders can charge their customers. Facebook also has a policy against displaying payday lending ads.

Payday loans are still legal in Tennessee, but soon you won't see ads from high-interest lenders when you're surfing on Google. Stephanie Carson has more.

Carson reporting.

Reach Crowell at 919-313-8523.




get more stories like this via email

more stories
The U.S. Supreme Court heard arguments this week about the popular abortion pill Mifepristone and will weigh in on whether the U.S. Food and Drug Administration was correct in how it can be dosed and prescribed. (Ascannio/Adobe Stock)

Health and Wellness

play sound

Missouri residents are worried about future access to birth control. The latest survey from The Right Time, an initiative based in Missouri…


Social Issues

play sound

Wisconsin children from low-income families are now on track to get nutritious foods over the summer. Federal officials have approved the Badger …

Social Issues

play sound

Almost 2,900 people are unsheltered on any given night in the Beehive State. Gov. Spencer Cox is celebrating signing nine bills he says are geared …


The U.S. teaching workforce remains primarily white while the percentage of Black teachers has declined. However, the percentage of Asian and Latinx teachers is rising.(WavebreakMediaMicro/Adobestock)

Social Issues

play sound

Education advocates are calling on lawmakers to increase funding for programs to combat the teacher shortage. Around 37% of schools nationwide …

Environment

play sound

New York's Legislature is considering a bill to get clean-energy projects connected to the grid faster. It's called the RAPID Act, for "Renewable …

Social Issues

play sound

Earlier this month, a new Arizona Public Service rate hike went into effect and one senior advocacy group said those on a fixed income may struggle …

Social Issues

play sound

Michigan recently implemented a significant juvenile justice reform package following recommendations from a task force made up of prosecutors…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021