The criticism is unfair because it always focuses on the APR. Companies like Wonga offer a very specific product, which is fast cash for a short period of time. The media uses the APR rate as a comparison, but APR doesn't work very well when loans are quoted over a short period of time.
Nick Clegg was forced to admit that British banks were not pursuing racist lending policies after a government report cleared
We're expecting David Cameron to confirm this week that the coalition's plans for House of Lords reform are going to be dropped
An £80 billion initiative to kick-start bank lending was fired into action today in the latest attempt to boost the struggling
If you ask any small business to list the issues that most affect its daily activity, you would get very short odds on at least part of the answer being access to finance. Over the last five years, banks have been vilified both for lending too frivolously and too modestly - quite an achievement, even for a banker.
The Bank of England and HM Treasury officially launched the "Funding for Lending Scheme" (FLS) on Friday 13 July (read the announcement and details here), yet another covert operation to shore up the banks under the disguise of helping small businesses and households to access cheaper credit and thus stimulate the economy.
Chancellor George Osborne on Friday said the launch of an £80bn emergency scheme to kick start bank lending showed Britain
Josh Sims brushes off his best suit, polishes his business figures and knocks on the bank manager's door.
Four of the UK's biggest banks have signed up to an "ambitious" lending scheme unveiled today by the Treasury to unclog the
Vince Cable will warn on Saturday that a lack of lending by banks could negate positive developments being made elsewhere