4m
28 Aug 2018

Payday lender Wonga forced into red

Business Editor

“Mr Wonga at wonga.com, you make it easy when the month feels too long” – so went the jingle back in the days when easily available payday loans with enormous interest rates attached were everywhere. Those times are over now. New rules requiring lenders to pay compensation for such high rates have forced Wonga itself into the red.