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Wonga collapse makes Britain’s other payday lenders in firing line

Wonga collapse makes Britain's other payday lenders in firing line LONDON (Reuters) - The collapse of Britain’s biggest payday loan provider Wonga will probably turn the heat up on its competitors amid a rise in grievances by clients and telephone telephone calls by some politicians for tighter legislation. Britain’s poster kid of short-term, high-interest loans collapsed into administration on Thursday, just months after increasing 10 million pounds ($13 million) to assist it handle a rise in payment claims. Wonga stated the...

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