4 ms·
My opinion on Wonga and other similar companies is that the usury laws which were repealed in the mid 19th century should be reinstated. In those times convict
by motters 12y ago
My opinion on Wonga and other similar companies is that the usury laws which were repealed in the mid 19th century should be reinstated. In those times convicted usurers danced on the end of a noose, but I'm not suggesting that be used as a punishment these days. Mere imprisonment is probably a good enough deterrent.
- tim333 12y agoIn defence of Wonga they seem popular with their million or so users - they have a NetPromotor score of around 70% vs around 0% for the regular UK banking industry. ( http://www.openwonga.com/uploads/openwonga_statistics_oct_2013.pdf http://www.openwonga.com/uploads/openwonga_statistics_oct_20... ). Also for better or worse they don't lend generally to the destitute - they lend to people with normal income with something like an unexpected boiler to replace and tell the genuinely hard up to go away.