Church Of England Declares War On [Payday Loans Firm] Wonga

Church of England leader Justin Welby has told a company offering short-term high-interest loans that the church wants to "compete" it out of existence by promoting not-for-profit credit unions. Welby, who as Archbishop of Canterbury is spiritual leader of the world's 85 million Anglicans. He said in an interview published late on Wednesday that he had delivered the message to Errol Damelin, chief executive of the British payday lender Wonga. [...]