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The new chairman of payday lender Wonga has pledged "significant change" after the firm "made mistakes" in sending out letters from fake lawyers to customers in arrears.
ITV News Business Editor Joel Hills confirmed the appointment, tweeting:
ITV News Consumer Editor Chris Choi reports:
A statement released by the Church of England said it was "pleased to announce" its indirect investment exposure to Wonga in its venture capital portfolio has been removed.
The Church of England has severed its ties with payday lender Wonga, the Church Commissioners for England said tonight.
Latest ITV News reports
Wonga's new chairman thought "long and hard" before taking the job - but says he's ready to bring "significant change" to the payday lender.