The new chairman of payday lender Wonga has pledged "significant change" after the firm "made mistakes" in sending out letters from fake lawyers to customers in arrears.
ITV News Business Editor Joel Hills confirmed the appointment, tweeting:
Wonga appoints former boss of RSA as new Chairman. Andy Haste says he has mandate for "significant change" and that Wonga "made mistakes".
Andy Haste says he was approached by Greylock - one of Wonga's shareholders - before fake law firm letters made public.
Andy Haste warns that the changes necessary to win full FCA authorisation will make Wonga "a smaller and less profitable business".
More top news
Michael Buble has been criticised as "disgusting" for posting a picture of a woman wearing tight shorts using the hashtag #beautifulbum.
Vinyl copies of a cover of Monty Python's 'Galaxy Song' recorded by Stephen Hawking go on sale later as part of Record Store Day.
The five-piece dance group do not sing but their choreographed back-flips had the crowd cheering at their audition in tonight's episode.