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Abp Welby wants school lessons on payday loans

Posted on: April 7, 2014 4:32 PM
Related Categories: Abp Welby, England

[Daily Mail] The Archbishop of Canterbury wants to take his ‘war on Wonga’ into the classroom using Britain’s network of Church of England primary schools to spearhead an educational campaign against high-cost borrowing.

The strategy to teach children the dangers of sinking into expensive debt through so-called payday lenders such as Wonga is being examined by former Financial Services Authority chief and Barclays executive Sir Hector Sants, who now heads the Archbishop’s Task Group on Responsible Savings and Credit.

Archbishop Justin Welby has slammed payday lending as ‘usury’ and last year said the Church would try to ‘compete them out of business’ with its own credit operation.

The full article can be found here