Wall Street Journal: Google Shuts Out Payday Loans With App-Store Ban

Wall Street Journal: Google Shuts Out Payday Loans With App-Store Ban. “The technology giant recently prohibited apps from offering personal loans with an annual percentage rate of 36% or higher on its Google Play app store. The move inserted the tech giant into a fight over payday loans, which often carry triple-digit interest rates. The shift was implemented in August with an update to Google’s app-development guidelines for the Android operating system, prompting an outcry from payday-lending companies.” This shouldn’t be horribly surprising; Google banned payday lending ads ages ago.