Payday lender Wonga says it is writing off £220m of debts for 330,000 customers after putting in place new affordability checks.
This has come about by increasing pressure from the Financial Conduct Authority (FCA), other payday lenders beware, the heat is on.
Pressure had to bear in the end, as someone who helps people with financial issues the increasing numbers of people falling foul of this type of lending had become more like an epidemic as the lender made it so easy to access the cash.
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