Wonga caught out targeting students
Payday loans company Wonga has come under attack for targeting their extortionate rate loans towards students.
The firm, which offers loans at a staggering 4,214% APR, has been forced to withdraw a page of its website that promoted its own short-term, high-interest loans over the standard student loan rate.
"The Wonga Advantage"
1 Comment
Leave a comment
Bookmarks
Recent Comments
- Which4U – Finance Blog » Blog Archive » “All in this together”? Banking Bonuses in the UK & Australia on A Whole New Banking Crisis
- Which4U – Finance Blog » Blog Archive » Payday Lenders Under Fire on Wonga caught out targeting students
- Small business confidence plummets – Which4U | Leomoo.com on Autumn Statement 2011
- Which4U – Finance Blog » Blog Archive » Saving Grace: How much compensation are you entitled to if a bank fails? on A Whole New Banking Crisis
- Which4U – Finance Blog » Blog Archive » Bank-rupture on A Whole New Banking Crisis
[...] A recent update on our sister Finance Blog in the UK tells how experts, journalists, and consumer groups turned on payday lending company Wonga after it was caught marketing itself to university students as a credible alternative to the standard government-backed student loan – despite the firm’s eye-watering 4,000% APR. [...]