Pay Day lenders

Which? launches campaign against high cost credit

A campaign from consumer advice group Which? is calling on the Government to bring in tighter regulations on the way money is lent by banks, credit card companies and pay day lenders.

The consumer group has claimed that overdrafts and other high end credit products are just as expensive as controversial pay day loans.

They found that on some current accounts borrowing £100 for...

Pay day lender posts £62.5m profit

Wonga has announced record profits of £62.5m amid growing controversy surrounding pay day lenders.

The firm lent over £1.2bn last year after a significant rise in money lending in the recession, approving on average more than 10,400 loans a day.

The industry, which is worth around £2bn in the UK, has recently seen an increased spend on advertising as more companies compete in...