Photo Gallery: Taking on the Payday Loan Sector
08/06/2013
Payday lenders in the UK, such as Wonga, Speedy Cash and Quick Quid, are...
AFP

Payday lenders in the UK, such as Wonga, Speedy Cash and Quick Quid, are increasingly lending small sums of money for a few days or weeks at interest rates that, when extrapolated onto a full year, can exceed 5,000 percent. Archbishop of Canterbury Justin Welby has called the practice "sinful" and "immoral."