Justin Welby declared war in the loan providers regulators which have taken battle with over one company going under

Justin Welby declared war in the loan providers regulators which have taken battle with over one company going under

The Financial Conduct Authority is cracking straight straight straight down on payday lenders. Photograph: Dan Kitwood/Getty Images

In 2013 the Archbishop of Canterbury, Justin Welby, declared war on Wonga as well as other payday loan providers crucifying borrowers with 5,000per cent interest loans. 36 months later on it seems just as if their prayers might have been answered .CFO Lending, that was fined ВЈ34m this week because of the Financial Conduct Authority, is simply the latest operator taken to its knees by regulators punishing bad lending behavior. Continue reading “Justin Welby declared war in the loan providers regulators which have taken battle with over one company going under”