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Credit unions expert praises Church of England’s challenge to Wonga
A credit unions expert has praised the Church of England for its plan to out-compete payday lending company Wonga.
Dr Peter Davis, of the University of Leicester’s School of Management, has worked as a consultant on credit unions and other forms of co-operative around the world – including for the United Nations Anti-Poverty Unit.
He welcomed the Archbishop of Canterbury Rev Justin Welby’s plan to build up credit unions as an alternative to payday loans that charge astronomical interest rates.
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