Monday, 30 June 2014

Police meeting over Wonga

It has emerged that City of London Police representatives are meeting regulators for discussions about Wonga, the payday lender which is embroiled in controversy over letters sent to customers.

Wonga sent letters from non-existent law firms to customers in arrears between 2008 and 2010.

Last week, the the City regulator the FCA said the company had agreed to pay £2.6m in compensation to about 45,000 customers - an average of about £50 each.

The police then confirmed  that they would "be reassessing whether a criminal investigation is now appropriate."

Previously they had ruled it out, saying the case should be left to the regulator.

Today's event -- at the FCA -- is thought to be an initial, exploratory meeting and is unlikely to be followed by announcements on future action.

City of London Police would not comment on the meeting or confirm that it was taking place.

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