How Smart Lending Dumbed Down

Between 2008 and 2010, Wonga was doing something mind-bendingly stupid: sending letters from fake law firms to borrowers behind on their loans. It sounds like a bad office prank. They even took the firm names from apparently still current employees — except when you consider that they did it 45,000 times and that it will cost them £2.25 million to give each injured party just £50 in… Read More

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