Pending Payday Lending Legislation
Last week, the CFPB announced that it is considering a proposal that would require payday lenders to take additional steps to ensure...
News by FinTech Collective
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Wonga hit in the pocket by tighter lending rules
Wonga has slumped to a £37M annual loss after a clampdown by UK regulators on payday lending. As part of Wonga’s effort to transform...
Consumer Financial Protection Bureau seeks limits on payday lenders
The Bureau's new rules are expected to address expensive credits backed by car titles and some installment loans that stretch longer...
UK Payday loan caps come into force
More than 1 million UK borrowers benefited from the Jan 1 regulations introduced by the FCA. Payday loans will now be capped at 0.8% a...
Wonga loses third chief executive in disastrous year
The interim chief executive of troubled UK payday lender Wonga, who was appointed to bring stability while the firm searched for a...
Wonga sees profits more than halve and may ditch its Newcastle United FC sponsorship
Profits at payday lender Wonga have fallen by more than half, forcing them to ditch their sponsorship of Newcastle United FC. In the...
Former anti-payday loan campaigner joins Wonga as PR head
Now that's not a headline I expected to see! Maybe the hot water they landed in last week with the UK Advertising Watchdog got them...
Wonga vs. Bank overdraft Fees
Wonga just got into trouble in the UK with this advert, but... Using a bank overdraft can be as expensive as a payday loan. According to...
The UK's FCA rules could force a quarter of payday lenders out of business
An interesting new twist for the UKs hugely profitable payday loan market.
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Strict new rules on payday loans could force a quarter of lenders out of business, in a move by the UK regulator to clamp down on “the...…
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