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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Payday loan lenders face MPs for questioning

Members of the payday loan industry appear before MPs.

Payday loan lender representatives are appearing in front of the Business, Innovation and Skills Committee to answer questions on regulation.

Evidence is being heard from Henry Raine, head of regulatory and public affairs, Wonga, Adam Freeman, chief executive of Mr Lender, QuickQuid, Greg Stevens from the Consumer Credit Trade Association and Graham Dunn from the Consumer Finance Association.

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