Wonga
Welby’s Wonga comments are a welcome intervention
The Archbishop Justin Welby is back in the news today after it emerged that he met with Errol Damelin, the chief executive of payday lender Wonga.com, to tell him he wants to put the company out of business.
Stopping payday lenders advertising won’t make the problem go away
Labour-run Plymouth council has sought measures to stop payday lending companies such as Wonga and The Money Shop from advertising on its billboards and bus stops – a move that will sit alongside agreements reached with city commercial partners to block adverts on the council's computer network, including in libraries.
The government needs to take the growth of payday lenders more seriously
Payday lending has historically been referred to as fringe banking in the United States, but you couldn't deny it's anything other than big business today.
Canada provides a shining example of how to regulate payday lenders
The chorus of disapproval is starting to become deafening on payday lending. However Canada shows that another model of payday lender regulation is possible.
Osborne’s budget gift to payday lenders
We've a gaffe-prone chancellor in George Osborne: before it was the 4x4 in the disabled parking space, then it was the fine for not having a first class ticket. Now he's caught out by The Sun for eating a “posh burger”.
The payday lending industry punishes people for its own faults
The payday lending industry punishes people for its own faults: they don't carry out the correct credit checks then continue to charge borrowers excessive fees and interest on loans they probably couldn't afford to begin with.