Recently, Matt Cutts, the head of Google’s search spam, announced during SMX Advanced that PayDay Loan 3.0 was launching this week, possibly today.
The target that this new algorithm update are “very spammy queries.” In case anybody was thinking this, this update is unrelated to the Panda or Penguin algorithms.
It seems that Google has been moving quickly with updating the PayDay Loan algorithms. It was only just a few weeks ago that they released the 2.0 version. But to clarify, Matt has said that the 2.0 version targets spammy sites, where 3.0 will target specifically spammy queries.