Wonga told to pay £2.6m

The new �1 coin will come into circulation at the end of March. All existing �1 coins must be spent or banked by October 31.
CAPTION: The new �1 coin will come into circulation at the end of March

New £1 coin will help battle counterfeit

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PAYDAY lender Wonga is to pay more than £2.6m in compensation to around 45,000 customers for ‘unfair and misleading debt collection practices’, the Financial Conduct Authority has said.

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 regulator said yesterday.

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