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25.06.14

FCA orders Wonga to pay £2.6m in compensation for sending letters from non-existent law firms

The UK’s largest payday loan company Wonga has been ordered to pay 45,000 customers compensation totalling over £2.6 million for unfair and misleading debt collection practices. Wonga sent communications to customers in arrears under the names “Chainey, D’Amato & Shannon” and “Barker and Lowe Legal Recoveries”.  These led customers to believe that their files had been…