Reuters logo
British payday lender Wonga says acting CEO Weller has quit
November 20, 2014 / 1:52 PM / 3 years ago

British payday lender Wonga says acting CEO Weller has quit

LONDON, Nov 20 (Reuters) - British payday lender Wonga said on Thursday that acting chief executive Tim Weller stepped down last month, becoming the third person to leave the job in the past twelve months.

Wonga has seen several senior executives depart over the past year, including co-founder Errol Damelin. The business has come under intense scrutiny from lawmakers and regulators, who have attacked its sky-high interest rates, listed at an annual interest rate of 5,853 percent on its website.

Britain’s financial regulator said last week that it will cap the interest short-term lenders can charge.

Reporting by Matt Scuffham; Editing by Steve Slater

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below