Advance America Statement on Google's Decision to Ban Short-Term Loans
SPARTANBURG, S.C., May 11, 2016 - Jamie Fulmer, Senior Vice President of Public Affairs at Advance America, one of the nation's leading consumer lenders, released the below statement following the announcement that Google will ban short-term loan advertisements:
"In deciding to arbitrarily ban all short-term loan advertisements, Google has chosen to throw the baby out with the bathwater. It is bowing to pressure from special interest groups and activists, who want to stop all short-term lending rather than make the simple distinction between regulated lenders and illegitimate operators. Millions of Americans shop for short-term loans online, as they do for many financial services and other products. Google's decision will undoubtedly make it more difficult for consumers to access regulated credit, which includes meaningful consumer protections, and to manage their finances and make ends meet."