Wonga: payday lender stops offering new loans

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Payday firm held emergency talks with Financial Conduct Authority over impact of collapse on existing customers

Wonga has stopped taking new loan applications as the struggling payday lender teeters on the brink of collapse.

The news comes days after it emerged that the company had lined up Grant Thornton to act as administrator in case the lender’s board decides it cannot be rescued.

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from The Guardian https://ift.tt/2MZQPjH

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