Google Cracks Down on Predatory Loan Apps

Google is cracking down on predatory loan apps by cutting off their access to "sensitive" data including debtors' contacts, photos and location, after growing criticism that unscrupulous lenders are tapping the contents of borrowers' smartphones for harassment and blackmail. From a report: The tech company said on Wednesday it would update policies for financial services apps listed on the Google Play store at the end of May, so that "apps aiming to provide or facilitate personal loans may not access user contacts or photos." Details provided to app developers for Google's Android mobile system also show that lending apps will, for the first time, be restricted from requesting access to users' precise location, phone numbers and videos. The new policy covers apps offering personal, payday and peer-to-peer loans, but not mortgages, car loans or credit cards. Studies have found hundreds of apps available through Google Play that have required prospective customers to grant them access to the most intimate information on their devices in order to proceed with an application. Consent is often obtained on the grounds that these details are needed to conduct a credit check or risk assessment.

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