Citizens Advice Bureau

Wonga has announced record profits of £62.5m amid growing controversy surrounding pay day lenders.

The firm lent over £1.2bn last year after a significant rise in money lending in the recession, approving on average more than 10,400 loans a day.

The industry, which is worth around £2bn in the UK, has recently seen an increased spend on advertising as more companies compete in...

Plymouth City Council has announced it is banning controversial payday loan websites.

Although similar moves have been initiated by councils in Cheshire East, Dundee and Renfrewshire, Plymouth is thought to be the first local authority to ban the websites from advertising on billboards and bus shelters in the city.

Access to the 50 most popular payday loan websites will also be...