Wonga to pay £2.6m in compensation to 45,000 customers

Payday lender Wonga is to pay more than £2.6 million in compensation to around 45,000 customers for “unfair and misleading debt collection practices”, the UK markets regulator has announced.

The UK’s biggest payday lender was found to have sent letters to customers in arrears from non-existent law firms threatening legal action, the Financial Conduct Authority (FCA) said.