Google's decision to ban payday loan ads is unlikely to hurtcredit unions offering alternatives to the controversial loans,experts said.
In fact, the ban could help credit unions and the people whoneed short-term loans, they noted.
“I would agree that it could have the indirect impact ofelevating our products in the minds of our members and potentialmembers by removing the distracting junk of the predatory stuffthat gets advertised on the internet,” Hank Hubbard, president/CEOof the $33 million One Detroit Credit Union in Detroit, said.
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