OpenWonga

News and views

As one of the most high-profile businesses in the finance sector, we attract a broad range of views on what we do. Here's our factual take on some of the hot topics involving Wonga.

OFT referral to the Competition Commission

Date article publshed: 27/06/2013 Read original article >

On 27th June 2013 the Office of Fair Trading (OFT) referred the 'payday lending market' to the Competition Commission.

As a long-time advocate and pioneer of better regulation, Wonga welcomes the chance to work with the Competition Commission, alongside our new regulator the FCA, to build a short-term credit sector based on our values of responsible lending and customer protection.

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Response by Editor Published: Categories: Wonga Competition Commission Office of Fair Trading (OFT)

Wonga in the news

Date article publshed: 27/06/2013 Read original article >

Wonga has been in the news a lot over the past few weeks, following a high-profile increase in our representative APR and the referral of the short-term credit sector to the Competition Commission.

In amongst the debate about the perceived rights and wrongs of Wonga, two opinion pieces from well-respected business journalists stood out as taking a considered view of the business and the APR issue – namely from the BBC’s Robert Peston and Patrick Hosking of the Times.

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Response by Admin Published: Categories: Wonga Annual Percentage Rate (APR) Office of Fair Trading (OFT) Competition Commission

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Given the large amount of media coverage about Wonga, we will not be able to post a response to every story. We will reply to your request within 48 hours and let you know of our decision.


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