Miliband's payday loans attack

Labour leader Ed Miliband has attacked payday loan lenders, claiming that "the Wonga economy is one of the worst symbols of this cost of living crisis." A Wonga executive has told MPs his firm's practice compares 'favourably' with credit cards.

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Wonga critics 'jump to conclusions', boss claims

Speaking at the launch of a documentary film about Wonga customers, the firm's chief operating officer defended the service against critics he described as "prejudiced".

"What we're trying to do here is ask people to look at our customers," Niall Wass told ITV News Business Editor Laura Kuenssberg.

"We've done a snapshot of a million active customers, 90% of whom would recommend us to friends and family."

He said Wonga's critics too often "jump to conclusions without looking at the facts."

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