This means everything and nothing: search engine Google has decided to ban payday loan advertising.
Facebook doesn’t show ads for payday loans and starting July 13th neither will Google, but results will still show up in searches. According to the Washington Post:
“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 … “
The hope is that predatory payday loan companies (read Payday Loans are the Devil in Money Matters: The Get It Done in 1 Minute Workbook) will have access to fewer willing clients. I’ll be interested to see how all this will play out.