Google bans payday lender ads

On May 11, Google announced that it will no longer accept ads promoting payday, auto title or other high cost installment loans that require repayment within 60 days from the date the loan is issued. The change to the Google AdWords policy also includes a ban on paid advertisements for high-interest loans with an annual percentage rate of 36% or greater.


Director Cordray testifies before Senate Banking Committee

On April 7, 2016, the Senate Banking Committee held a hearing on the Consumer Financial Protection Bureau’s Semi-Annual Report to Congress and featured testimony from CFPB Director, Richard Cordray. This hearing followed Director Cordray’s appearance before the House Financial Services Committee in March, but unlike the House hearing, exchanges between Republican Senators and Director Cordray remained civil despite vehement disagreement on a number of issues.


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