The Archbishop of Canterbury said in 2013 that he wanted to put Wonga out of business ANDREW KELLY/REUTERSThe Church of England has pulled out of talks to buy Wonga’s £400 million loan-book, insisting that other groups are better placed to protect borrowers who still owe the company money. The Archbishop of Canterbury was planning to bring together a group of charities and investors at Lambeth Palace to discuss bidding for the outstanding loans owed to Wonga, a collapsed payday lender. The aim was to ensure that they were not bought by a commercial firm who would charge high rates. The church confirmed yesterday that the talks had taken place, but said the Church Commissioners, who handle more than £8 billion of assets, would take no further part. “Informal discussions have been held with parties from the charitable and finance sectors seeking to…

Source: The Times September 21, 2018 16:07 UTC