CoE: Wonga ruling shows need for lending alternatives

A Church of England spokeswoman, commenting today on the FCA ruling that Wonga had engaged in "unfair and misleading debt collection practices" said:

We welcome anything that clamps down on aggressive or irresponsible debt collection practices, and not just by payday lenders.

This highlights the need for more responsible alternatives to payday lending and other forms of high cost credit.

That is why the archbishop's task group is developing a set of practical initiatives to meet the need for more affordable and responsible lending and saving opportunities.

More: Wonga to pay compensation for 'misleading practices'

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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.