G gle Ban Does Not Stamp Out Short-Term Payday Lending Apps

G gle Ban Does Not Stamp Out Short-Term Payday Lending Apps

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In August, G gle announced a worldwide crackdown on Android apps offering short-term loans, saying it wished to protect customers from exactly what it called “deceptive and exploitative” terms.

But five months later on, payday -style applications providing money that is fast one or fourteen days continue to be simple to find in numerous nations on Bing Enjoy, the company’s marketplace for Android os apps. Some fee rates of interest that may go beyond 200% annualized.

Lending apps are specially popular in developing countries such as for instance Nigeria, Asia and Kenya, where thousands of people don’t have actually bank reports or charge cards but do have mobile phones. Continue reading “G gle Ban Does Not Stamp Out Short-Term Payday Lending Apps”