Monzo insists new short-term loans won`t be at Wonga rates
(The Guardian Money News)

Challenger bank offers short-term loans but says it is not targeting customers who use payday lendersDigital bank Monzo is dipping its toes into the short-term loans market a year after Wonga´s collapse, but insists it will not target customers who usually turn to payday lenders.The challenger bank formally launched loans for its 2.5 million customers on Thursday, following a trial with around 4,000 of its users. Those who qualify will be able to borrow as much as £15,000 for up to 60 months, or take loans as small as £200 for as little as 90 days. Continue reading...