(Guardian Moneyblog) The Church of England's unholy mess over its Wonga stake

In a speech in Westminster, Welby pointed out that loan sharks sometimes turn up with baseball bats if customers do not pay. It now turns out that Wonga sends out menacing letters from non-existent solicitors if its customers miss their repayments.

And, herein lies the problem for the Church of England. Its Church Commissioners arm has a £100,000 stake in Wonga ”“ albeit less than it was but a stake nonetheless, held through the Accel Partners investment vehicle which backed one of the payday lenders’ funding rounds.

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