Payday firms say they make careful affordability checks. These are supposed to ensure the companies don't lend more than a borrowers can repay.
But today they admitted to a worrying blind spot. It's possible for someone to take out a series of short term loans all around the same time, without the payday firms realising the individual is becoming over-stretched.
The spokesman for Mr lender, Adam Freeman, admitted it could be 60 days before they get the information. Wonga's Henry Raine agreed that better data sharing is needed to plug the information gap.
More top news
A man who was blasted three times during the Tunisian beach massacre said he shielded his fiancee and told her: "I'm going to die."
SNP calls on the Prime Minister to "think again" on proposals to give English MPs a veto over legislation which affects only England.
Heavy showers set to spread into western areas tomorrow.