Tougher regulation of payday loan sector leads to sharp tumble in revenues The controversial lender Wonga saw losses more than double in 2015 as tougher regulation of the payday loan sector led to a sharp tumble in the number of loans taken out by UK consumers. The UK’s biggest payday loan firm reported a pre-tax loss of £80.2m for the year – up from 38.1m the year before. After tax,the company lost £76.5m, versus £43.6m in 2014.
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Source: theguardian.com