Wonga name new chairman after fake letter scandal

The new chairman of payday lender Wonga - Andy Haste - has pledged "significant change" after the firm "made mistakes" in sending out letters from fake lawyers to customers in arrears.

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CoE 'has not made a profit' from Wonga link

A statement released by the Church of England said it was "pleased to announce" its indirect investment exposure to Wonga in its venture capital portfolio has been removed.

The Church Commissioners for England are pleased to announce that their indirect investment exposure to Wonga in their venture capital portfolio has been removed. The Church Commissioners no longer have any financial or any other interest in Wonga.

The terms ensure that the Church Commissioners have not made any profit from their investment exposure to Wonga.

At no time have the Commissioners invested directly in Wonga or in other pay day lenders. The indirect exposure of the Commissioners through pooled funds represented considerably less than 0.01% of the value of Wonga.

– The Church Commissioners for England

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