The Church of England has eliminated purchasing the loan book of unsuccessful UK payday lender Wonga to be able to protect borrowers.
Wonga – which made short-term loans at high interest levels, becoming the UK’s biggest lender that is payday went into administration final thirty days, after a large number of settlement claims from clients and tougher government guidelines when it comes to sector. Its assets consist of that loan guide worth around £400m (€450m).