Companies & Industries

The feud: Justin Welby vs Errol Damelin

The wallet of God.

The conflict: During a recent sit-down, the leader of the Church of England ever so politely told the CEO of payday loan company Wonga that he plans to smite his business out of existence, bringing upon it the full might of the church’s powers of…competition. Welby said he will create new credit unions to become pillars of community—and offer loans at rates significantly lower than Wonga’s.

brite-feud

The outcome: Following their conversation, Damelin called Welby “an exceptional individual” who “understands the power of innovation.” He further called their relationship one of mutual respect, and said he welcomes the competition. Welby admits his plan will be a decade-long process, but has already opened one union for clergy and staff in York.

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