Wonga Ad Banned Over Interest Rate Information

The Huffington Post UK | Posted 09.04.2014 | UK

A Wonga advert has been banned for implying that the representative APR of 5853% was "irrelevant". The television ad for the payday loans company f...

Welcome To The United Kingdom of Wonga..

Karl Davis | Posted 20.02.2014 | UK Politics
Karl Davis

It's almost as hard to escape the many 'payday loan' advertisements that flood virtually every advert break in the TV schedule these days as it is to access any strand of public service that hasn't been flogged off to the private sector.

Church Investments 'Will Never Be Pure'

The Huffington Post UK | Jessica Elgot | Posted 10.02.2014 | UK

Ethical advisors to the Church of England have warned that the CofE's investment portfolio "will never be pure", and advised that some "ethical ambigu...

Nationalising Wonga

Ben G. Jones | Posted 20.03.2014 | UK Universities & Education
Ben G. Jones

If ever there is a company representing the most abhorrent and vile aspects of modern Britain, Wonga is surely it. Today, I make the case for taking the fight to payday loans companies which represent the financial sector at its very worst. The time has come, I argue, for a state-run alternative to Wonga.

Are Payday Lenders 'Exploiting' Borrowers?

The Huffington Post/PA | Posted 25.01.2014 | UK

Payday lenders have been accused by Which? of "exploiting" borrowers who default on loans with over-the-top fees that raise the risk of them tipping i...

Church Of England Still Has £80,000 Stake In Wonga

The Huffington Post UK | Asa Bennett | Posted 31.12.2013 | UK Politics

The Church of England has failed to dump its £80,000 stake in Wonga, five months after it was revealed to be indirectly investing in the payday giant...

We Will Limit Cost Of Payday Loans, Treasury Pledges

The Huffington Post UK | Jessica Elgot | Posted 25.11.2013 | UK

The Government is to announce it will cap the cost of payday loans, after damning new statistics showed more than 60% are offered without proper check...

Wonga Offers Schoolboy £400 Loan With 5853% Interest

The Huffington Post UK | Posted 23.01.2014 | UK

Wonga has reportedly offered a £400 loan to a 13-year-old boy, which would take him the best part of 100 years to pay off. Dundee schoolboy Drew D...

The Rise of Payday Loans on Campus

Hannah Stubbs | Posted 23.01.2014 | UK Universities & Education
Hannah Stubbs

Cash-strapped. Stingy. Penny-pinching. Just some of the most common labels pasted onto students. With monikers like these it's no wonder that we have always turned to alternative forms of income to see us through until the end of term

Austerity Britain 'To Continue Till 2030'

The Huffington Post UK | Asa Bennett | Posted 07.11.2013 | UK Politics

British families will continue to feel the austerity squeeze until 2030, over a decade longer than previously expected, a stark report by PwC has warn...

Payday Lending Must Not Become a Permanent Fixture of British Life

Ann McKechin | Posted 07.11.2013 | UK Politics
Ann McKechin

With Christmas just around the corner, it's that time of year when statistics emerge to tell us how many people will fund their annual festivities with some form of short-term credit. This year, the Government-backed Money Advice Service has said that over a million people are considering using a payday loan to fund Christmas; a worrying indication of how deeply ingrained this form of high-cost credit has become in British life.

Payday Lenders 'Running Riot Through Our Communities'

The Huffington Post UK | Asa Bennett | Posted 05.11.2013 | UK Politics

Ed Miliband has launched a savage attack on Britain's "Wonga economy" as he warned that payday lenders were "running riot through our communities". ...

The Payday Lenders We Love to Hate

Guy Corbet | Posted 17.12.2013 | UK Politics
Guy Corbet

Wonga is at times a little like an embarrassing relative. It can make us cringe but secretly perhaps we're all glad it's there. For a lot of us, payday lending galvanises our moral outrage. It gives us something to kick against. It is the business we love to hate, but perhaps we are being unfair?

Miliband Declares War On Wonga

The Huffington Post UK | Asa Bennett | Posted 17.10.2013 | UK Politics

Payday lenders such as Wonga would face higher taxes under a Labour government in order to help their credit union rivals, Ed Miliband is to announce....

Mehdi's Morning Memo: Miliband's 'Wonga Tax'

Huffington Post | Mehdi Hasan | Posted 17.10.2013 | UK Politics

The five things you need to know on Thursday 17 October 2013... 1) MILIBAND'S 'WONGA TAX' Boom! First, the energy companies. Now the payday lend...

Coming To Your Cinema: Wonga The Movie

The Huffington Post UK | Asa Bennett | Posted 15.10.2013 | UK

Wonga is set to release its own feature film at the end of this year which could be shown in cinemas and on television. The firm, which made over ...

'Our Customers Love Us'

The Huffington Post UK | Tom Moseley | Posted 03.10.2013 | UK

The man representing the payday loans industry has boasted: Our customers love us. Russell Hamblin-Boone, chief executive of trade body the Consume...

Why Has Boris Compared Ed To Wonga?

The Huffington Post UK | Posted 30.09.2013 | UK

Ed Miliband's promise to freeze energy prices is a "Wonga-like" offer from a man with no interest in energy efficiency, according to Boris Johnson. ...

Why Has the Church Of England Bought 300 RBS Branches?

The Huffington Post UK | Asa Bennett | Posted 27.09.2013 | UK Politics

A Church of England consortium has bought 314 branches of the Royal Bank of Scotland in a £600 million deal. Church-backed consortium Williams & G...

Robbing Peter to Pay Paul

Rob McDowall | Posted 23.11.2013 | UK Politics
Rob McDowall

Payday Loans have become a hot topic and a regular feature in the British press week in, week out. The market has grown significantly and although the Office of Fair Trading (OFT) have no official figures on exactly how much the sector is worth it estimated it at around £900 million in 2008 with Consumer Focus estimating the total value of loans made in 2009 at £1.2 billion.

How Many Adults Needed A Loan Last Year?

The Huffington Post UK | Asa Bennett | Posted 20.09.2013 | UK

More than one in five Britons have had to take out loans in order to put food on the table and meet their energy bills, research has found. Around ...

Which Payday Lender Is The Most Expensive?

The Huffington Post UK | Asa Bennett | Posted 17.09.2013 | UK

Payday lenders are up in arms about one particular bit of industry legislation, which legally obliges them to advertise their annual percentage rate (...

'Shocking' Threefold Rise In Payday Loans In Past Year

PA | Posted 09.09.2013 | UK

Workers are borrowing £660 a month to make ends meet, three times as much as a year ago, "shock" new figures have revealed. A study by the Unite u...

Can Credit Unions Really Compete With the Profits of Wonga?

Ben Hughes | Posted 03.11.2013 | UK
Ben Hughes

Wonga has just announced that it makes over £1million profit every week. It made almost four million loans last year and is now the UK's joint 14th biggest lender. Can anyone really compete them out of business? I believe that community finance could and should do just that.

Wonga Chief Mocks Archbishop Welby's Rival Credit Unions

The Huffington Post UK | Asa Bennett | Posted 17.10.2013 | UK

Credit unions, the financial groups championed by the Archbishop of Cantebury Justin Welby, would need state support to rival payday lenders, the boss...