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Google ban fails to stamp out short-term payday lending apps

Google ban fails to stamp out short-term payday lending apps

Sunday, January 26, 2020, 3:23 PM

In August, Google announced a global crackdown on Android apps that offer short-term loans, saying it wanted to protect consumers from what it called "deceptive and exploitative" terms. But five months later, payday-style applications offering fast-money for one or two-weeks are still easy to find in many countries on Google-Play, the company's marketplace for Android-apps. Some charge interest rates that can exceed 200% annualized.
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