Wonga will write off the debts of 330,000 customers, worth £220m, after the FCA found flaws in its system for assessing the ability of borrowers to pay back their debts.
The FCA said Wonga has entered into a voluntary agreement with the regulator that requires it "to make significant changes to its business immediately". Customers whose loans do not meet the company's...
Tech giant still stands out
Reduces chances of rate hike
Designed to park short-term cash
Moving from two existing locations