CoE 'welcomes aggressive debt collection clampdown'

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:

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Church of England "welcomes anything that clamps down on aggressive or irresponsible debt collection". CoE has indirect investment in Wonga

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Wonga is a private company but Church of England has "less than £100,000" invested via private equity investment trust.

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Church estimates cost of getting rid of its "exposure" to Wonga immediately at between £3 million and £9 million.

Watch: Justin Welby: 'We got things wrong' over Wonga investment

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Police to look again at fake legal letters sent by Wonga

City of London Police have confirmed they are to look again at whether they think a criminal investigation into Wonga would be appropriate after the payday lender sent out fake legal letters to customers.