If Senator John Thune thinks the alleged and disputed bias of Facebook Trending News warrants a Congressional investigation, then surely he’ll muster big government to look into Google’s very real and open bias against payday lenders. Google is banning ads for payday loans:
Google announced Wednesday that it will ban all payday loan ads from its site, bowing to concerns by advocates who say the lending practice exploits the poor and vulnerable by offering them immediate cash that must be paid back under sky-high interest rates.
…Consumers will still be able to find payday lenders from a Google search. But the ads that appear on the top and right-hand side of a search results page will not show marketing from the payday lending industry beginning on July 13 [Andrea Peterson and Jonnelle Marte, “Google to Ban Payday Loan Advertisements,” Washington Post, 2016.05.11].
Google says it is banning ads for loans with an APR greater than 36% because “research has shown that these loans can result in unaffordable payment and high default rates for users.”
The next logical question for Google is whether this ban against misleading ads for fake or harmful products will also compel them to ban ads for South Dakota’s Amendment U (for Usury!), the misleading ballot measure that proposes to write a fake and harmful amendment into South Dakota’s constitution insulating triple-digit-interest payday loans from regulation.