Archbishop embarrassed by link to payday loan firm

Associated Press
Archbishop embarrassed by link to payday loan firm

File - The Archbishop of Canterbury Most Reverend Justin Welby during a service inside Canterbury Cathedral for his enthronement in Canterbury, England, in this Thursday, March 21, 2013 file photo. The Archbishop of Canterbury admitted Friday July 26 2013 that he was embarrassed by revelations that the Church of England indirectly invested in a payday loan firm he had pledged to put out of business. Archbishop Justin Welby, leader of the world’s 80 million Anglicans, told the BBC he would urgently review the church’s investment after a report by the Financial Times that the church’s pension fund had invested in Accel Partners, an American venture capital firm that led the 2009 fundraising for payday lender Wonga. (AP Photo / Phil Toscano, File)

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