New AdWords Policy Bans Payday Loans

Google updated their AdWords Policy to show that as of July 2016 ads for payday loans and related products will be banned. Here's how Google explained the policy change:

We will no longer allow ads for loans where repayment is due within 60 days of the date of issue. In the U.S., we are also banning ads for loans with an APR of 36% or higher... This change is designed to protect our users from deceptive or harmful financial products and will not affect companies offering loans such as Mortgages, Car Loans, Student Loans, Commercial loans, Revolving Lines of Credit (e.g. Credit Cards).

According to outside analysts, Google will be giving up an estimated $34.5 million dollars in payday loan AdWords sales. However that is a drop in the bucket compared to the $64 billion in revenue Google earned in 2015.