The Church of England, which has indirect investment in payday lender Wonga, said that it "welcomes anything that clamps down on aggressive or irresponsible debt collection".
ITV News Business Editor Joel Hills reports:
Church of England "welcomes anything that clamps down on aggressive or irresponsible debt collection". CoE has indirect investment in Wonga
Wonga is a private company but Church of England has "less than £100,000" invested via private equity investment trust.
Church estimates cost of getting rid of its "exposure" to Wonga immediately at between £3 million and £9 million.
The country's biggest payday lender apologised after admitting it sent 45,000 customers letters from fake law firms.
The payday lender's misleading practices has shown how unfairly customers have been treated in the past.