BBC News – Wonga sees profits more than halve

[Legal Beagles]

Profits at payday lender Wonga have fallen by more than half, the company has announced. In the year to the end of December 2013, profits fell by 53% to £39.7m. The company blamed “remediation costs” – money it had to pay back to customers as a result of its own mistakes. It also says it […]

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[Wombats]

Re: BBC News – Wonga sees profits more than halve

In his blog BBC business editor Kamal Ahmed said chairman Andy Haste “has admitted that the company had been growing too fast and had been successful in part by resorting to unsustainable business practices.

Were they unsustainable because they were unfair or unlawful by any chance?