The Archbishop of Canterbury has warned the on-line lender Wonga that low-cost credit unions could force it out of business. The Most Rev Justin Welby told the company that the Church of England wants to "compete it" out of existence. In a magazine interview, Archbishop Welby said he spoke to Errol Damelin, Wonga's chief executive. Wonga has been criticised for its high rates of interest. Mr Damelin said they had had a wide-ranging talk. "I've met the head of Wonga, and we had a very good conversation," the Archbishop told Total Politics magazine.....Read more here