payday loans

Update: Cash-strapped Wonga goes into administration in the UK

Update: That’s it for Wonga’s UK business. The beleaguered payday loans company has just confirmed it’s gone into administration. Although it says its overseas businesses are contin

Dave wants to save you from expensive overdraft fees

Meet Dave: an AI dressed up in a bearsuit that's just launched to save you from the evils of expensive overdraft fees. Hand Dave access to your checking account and the app's machine learning algorith

LendUp fights big banks with $47M for compassionate credit cards

Banks win when the poor lose. Credit cards can trap people in debt and bleed them dry with late fees. But it’s this exploitative experience that makes banks vulnerable to fintech startups like L

Disgraced Payday Lender Wonga Sells SMB Business To Orange Money, Cuts 325 Jobs

More unravelling for Wonga, the UK-based online lender that last year had to write down £220 million ($340 million) in unpaid loans. The company announced today that it would lay off 325 staff, and

U.K. Confirms Payday Loans Caps Coming In January

Strict new price caps will come into force in the U.K.'s payday loans market in January, sector regulator the Financial Conduct Authority (FCA) has confirmed, affecting any U.K. businesses that offer

Wonga Investors Still Won’t Comment On Censured Payday Loans Firm

A panel of Europe's top investors has publicly declined to comment on what went wrong at payday loans company Wonga, in the wake of a £220 million write down earlier this month. The investors were ta

Investors Stay Silent After Wonga Fiasco

TechCrunch asked Wonga’s investors to comment on whether they thought the payday loan company had acted responsibly -- given the scale of the failures identified by the FCA, and the evident inadequa