Anyone placing Credit/Loan/Financial ads on Facebook or Instagram (carousel, video, static, etc) will not be able to target users by age, house hold income, gender, or zip code. However, we can target by radii (minimum 15 miles around a city or address, zips codes are not accepted), city, etc. This new ruling came down as a settlement with the ACLU who deemed “showing how targeting options could be used to discriminate and protect those individuals.” This also applies to housing ads and Recruitment ads.
You are also no longer allowed to run custom audiences or lookalike audiences, or run category or geographic exclusions. You can run custom audiences if you aren’t promoting loans or credit cards.
Facebook is also starting to limit Detailed Targeting which may include demographics, behaviors or interests, are unavailable. So for example, you can’t target by things like Family, Graduation Date, In Grad School, Parents with children, etc. Facebook also doesn’t allow predatory loans, so nothing to promote payday loans, paycheck advances, bail bonds, or any short-term loans intended to cover someone’s expenses until their next payday. Short term loan refers to a loan of 90 days or less.
For ads mentioning loans or credit the client’s website has to have certain information: “Ads promoting credit card applications, or financial services with accredited institutions must clearly provide sufficient disclosure regarding associated fees, including APR percentages, transaction fees, interest rates and the physical address of the entity offering the product within the ad’s landing page.”
Here is an example of an ad that was approved:
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