UK: Google Payday Loan App Ban Ruffles Fintech Feathers
1st September 2019
Google’s decision to wipe “deceptive” and “exploitative” payday loans from the Android operating system has been met with criticism from short term lenders who slammed it for treading on the British government’s toes.
Loans that require repayment in full in 60 days or less, also referred to as pay-cheque advances or short term loans will soon be banned, Google has warned app developers in an email.
This is a good instance of the harm that ‘woke’ tech firms can do to their customers by embracing the political agenda of the Nanny class. Observe that the same people who think that abortion ought to be a decision solely of a mother and her doctor are loath to extend the same respect to a loan that ought to be the decision solely of a borrower and his (her?) lender.
You can kill your child without a qualm on our part but we shrink from the horror of allowing you to borrow money under circumstances that we find undesirable.