Revised Google financial products and services policy

Earlier this November, the Office of the Superintendent of Bankruptcy (OSB) was made aware of a change to Google’s Financial products and services policy. The revised policy, which came into effect in mid-November, restricts the advertisement of debt settlement, debt management services and credit repair services.

The revised policy states, “ads for debt settlement or debt management services will be allowed to serve only if the advertiser is certified by Google. Certification will be available only in certain countries.”

Canada is not on the current list of countries.

The policy also states that “to be certified by Google, debt settlement and debt management services advertisers will need to be registered, licensed, or approved by the relevant regulatory authorities or recognized professional bodies in the country or countries they are targeting.”

Please be advised that the OSB has been in contact with Google since early November with regard to their new policy and we are diligently trying to determine whether Canada will be added to the list of countries for which certification is possible.

We are currently unaware of what may be driving Google’s policy decisions, and we cannot make any assurances as to the timing or results of our enquiries with them.

The OSB understands the potential impacts of this issue and is working hard to reach a solution.

We will communicate further information and next steps as soon as possible.