Google restricts loan shark apps from preying on you or your contacts

As you can see, not only will Personal Loan apps lose access to profile and other photos or media, but they also won't be able to swipe your contact list and inundate them with offers. 

Such apps have long been a nuisance with their hawking methods worthy of a loan-sharking business, so Google has decided to shake things up and restrict the damage they can do without banning legitimate businesses altogether.

It apparently is also ready to introduce localized restrictions based on a country's legislation regarding personal loans businesses, including reviewing their documents if there is a licensing system involved.

Quick loan apps have proliferated in recent years and have made it inherently easier to take one with a few taps without the paperwork and restrictions of banking institutions involved. For many users in developing markets their Android phone is the only computing device they have and they have increasingly been the target of predatory lending practices via apps present in the Play Store.

This practice has snowballed the amount of loans with extremely high interest that has been taken via an app on their phones, resulting in the usual array of unruly behavior by the loan originators. People in many countries have had their contacts poached and harassed for their outstanding loan, their photos altered for the purposes of intimidation and some of them have tragically committed suicide because of unsavory quick loan app lender practices. Google has been accused of not doing enough to nip this trend in the bud, and it is now taking measures to reign in bad lender behavior.