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.
Public Accounts Committee report
Date article publshed: 31/05/2013 Read original article >
The Public Accounts Committee (PAC) has published its report into the regulation of consumer credit.
The Times concludes that “One player comes out rather well from the report. Wonga…is cited twice and rather positively. It limits loan rollovers to three - a laudable policy that the committee recommends be adopted by all lenders. And it stops racking up interest on defaulters after 60 days - a limit the committee wants enshrined in legislation”.
Which? campaign to ‘clean up credit’
Our regular customer surveys continue to show that most people use Wonga because of the control, convenience and transparency of the service, but the recent Which? campaign to “clean up the entire credit market” also backs up the other rarely told truth about our consumer product:
People often use Wonga because of the price.
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