The Consumer Financial Protection Bureau (CFPB) has announced a settlement with payday lender Cash Express, which will pay approximately $32,000 in restitution to consumers, as well as a $200,000 civil money penalty for violating the Consumer Financial Protection Act (CFPA). Based in Tennessee, Cash Express...
The U.K.’s largest payday lender is shutting down after a surge in complaints from former customers. According to Financial Times, Wonga confirmed on Thursday (Aug. 30) that its board had decided to shut down, appointing Grant Thornton as administrator. The news isn’t a complete surprise....
Wonga, the U.K.-based payday lender, has halted accepting new loan applications. The Guardian, citing the company, reported that a statement on Wonga’s Website said: “While it continues to assess its options, Wonga has decided to stop taking loan applications. If you are an existing customer...
Payday lender Wonga issued a warning to its customers in the wake of a massive data breach. The company notified roughly 270,000 of its customers — more than 240,000 in the U.K. and another 25,000 in Poland — that their information may be at risk after a data...
October 25, 2019
The U.K.’s largest payday lender QuickQuid is expected to close its doors by the end of the year, The Financial Times (FT) reported on Thursday (Oct. 24). The U.S. owner of CashEuroNet U.K., which operates the QuickQuid and On Stride brands, is considering its options after confirming plans to exit its British operations. Payday lenders […]
October 25, 2018
The Consumer Financial Protection Bureau (CFPB) has announced a settlement with payday lender Cash Express, which will pay approximately $32,000 in restitution to consumers, as well as a $200,000 civil...
August 31, 2018
The U.K.’s largest payday lender is shutting down after a surge in complaints from former customers. According to Financial Times, Wonga confirmed on Thursday (Aug. 30) that its board had...
August 30, 2018
Wonga, the U.K.-based payday lender, has halted accepting new loan applications. The Guardian, citing the company, reported that a statement on Wonga’s Website said: “While it continues to assess its...
