Beyond Wonga: Economists call for changes to British finance as payday lender hits buffers
Wonga stops issuing new loans as company teeters on the edge of administration
LEADING economists are calling to changes in the structure of UK finance as the exploitative 'payday' loans company Wonga stops issuing new loans, as it sits on the verge of bankruptcy.
Wonga has been the subject of an escalating number of claims by customers relating to former loans. The company has lined up an administrator and shareholders have thrown £10m at the company to try to keep it afloat.