Wonga

Those who were mis-sold payday loans by Wonga before it collapsed will receive just 4.3% of the compensation they're owed, according to the firm's administrators.

Payday lender Wonga is investigating an "illegal and unauthorised access" to data which could affect around 245,000 customers in the UK customers and a further 25,000 in Poland.

Payday lender Wonga has double-charged up to 7,000 customers following a technical glitch, leaving some unable to pay their bills – but while the firm will provide refunds and pay costs incurred by those left out of pocket, it won't commit to paying borrowers interest on the money which was wrongly taken.

More than 147,000 borrowers are due a share of over £15.4 million after Dollar Financial UK (Dollar), trading as The Money Shop, Payday UK, Payday Express and Ladder Loans, lent many people more than they could afford to repay.

More than 92,000 customers of payday loan firm, Cash Genie, are due a share of £10m in redress after the firm was found guilty of making a number of "serious failings", including charging unfair fees and rolling customers' loans over without consent.

Payday lender Wonga is launching a new advertising campaign featuring 'hard-working dinner ladies and mums' after ditching its controversial puppet ads.

The City of London Police has today said it will not carry out a criminal investigation into Wonga's debt collection practices after it was revealed last year that the payday lender used letters from bogus law firms to pressure customers into paying debts.

Of the 45,000 customers who received fake lawyer letters from payday lender Wonga, 18,000 have yet to receive compensation offers from the firm.

People taking out payday loans will never have to pay back more than double what they originally borrowed, the Financial Conduct Authority (FCA) has announced today. While MoneySavingExpert.com welcomes this move, it is disappointed that the loan cost cap isn't lower.

All Wonga customers who are 30 days or more in arrears on their loans will have the balance completely written off, while all customers who are in arrears of up to 29 days will have the interest and charges on their loans wiped.