......as critics slam lender's 'cosy' relations with ministers

Wonga has hired one of the Prime Minister's senior advisers to lobby on its behalf in a move critics said signaled its desire to fend off changes that would give borrowers greater protection.
Wonga is to make Jonathan Luff its global head of public affairs, the first time the payday lender has employed anyone in such a capacity. Mr Luff is an insider at No.10, having performed the role of David Cameron's adviser on digital strategy. He has been on secondment from the Foreign Office. The eye-catching hire was taken as a sign that Wonga will lobby the very top of government to prevent curbs on its lending. In a statement Wonga said: 'Jonathan has prior diplomatic Service experience and wide-ranging international contacts, and he is therefore well placed to support the company’s international growth. Wonga is delighted with the appointment.' As a so-called 'payday' lender, Wonga charges sky-high rates of interest - its typical APR is 4214 per cent - for short-term loans. The loans are controversial and lenders have been dubbed 'legal loan sharks' by their critics.....Read more here: http://www.thisismoney.co.uk/money/c...ministers.html