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Church of England rules out bid for unsuccessful pay day loan business

The Church of England has eliminated purchasing the loan book of unsuccessful UK payday lender Wonga so that you can protect borrowers.

Wonga – which made short-term loans at high interest levels, becoming the UK’s biggest lender that is payday went into management final thirty days, following a huge number of settlement claims from clients and tougher federal federal government guidelines for the sector. Its assets consist of that loan guide worth around £400m (€450m).