Errol Damelin
Wonga CEO Errol Damelin has called for better regulation of the consumer lending sector and of the wider financial services industry within the United Kingdom. The Office of Fair Trading (OFT) is currently responsible for regulating the industry. However, from 2014, responsibility for consumer lending companies will move to the Financial Conduct Authority (FCA), a change Errol Damelin welcomes.

Tougher regulation will mean that the industry can move forward and enable Wonga and other likeminded companies to continue innovating the world of digital finance.

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