Campaigners say that high-interest loans can push people further into debt and trigger mental health problems. An investigation by The Sunday Times found that companies advertise payday loans on Google in the UK. But in America the search engine company bans adverts for personal loans with annual interest rates of 36% or higher. A search for payday loans on Google found adverts from more than six leading companies such as Swift Money, PiggyBank and Sunny. Swift Money, which offers loans with annual interest rates of up to 1,255%, promises that it can deposit between £50 and £1,000 into a bank account “in as little as 10 minutes”…

Source: The Times May 05, 2018 23:06 UTC