The apparent 'economic recovery' of the UK of May 2015, can be seen in the extremely dubious terms set by the formerly incumbent Conservative-led coalition government, and none more so than in the widespread use of food banks and payday loans by the unemployed, and 'working poor' alike.
Everyone in the UK who reads a newspaper (or catches TV or radio news) has heard of payday lender Wonga. That company has had its fair share of negative publicity in recent years for astronomic interest rates and dubious business practices.
However, the thematic review should have been much clearer about when non-compliance was identified and whether the firms responsible are still trading. Until we tackle the institutional misrepresentation of the industry it will be difficult for consumers to break free of out of date financial services and embrace new technology and new attitudes to financial management.
Should responsible borrowers be rewarded for their good financial management with access to increasingly cheaper forms of finance? A new report says 'yes', but not everyone thinks they should be allowed to climb the credit ladder.
An ad for payday lender Wonga has been banned for breaching regulations by failing to disclose the relevant cost of borrowing
Controversial payday lender Wonga is expected to report a sharp fall in profits when it publishes its full-year results tomorrow
Payday lenders are "bombarding" debt-ridden families with unsolicited marketing calls pushing them to take out more loans
People using payday lenders are to see the cost of borrowing fall significantly under a crackdown announced by the financial
Wonga's grandparent puppets, stars of the controversial payday lender's recent adverts, are to be axed as part of the firm's
Britain's biggest banks are hitting customers with legal threats from what appear to be independent lawyers, but are actually