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Payday loan firms quizzed by MPs

5 November 2013 Last updated at 13:31 GMT

Payday loan companies have been defending their business practices before a group of MPs.

Wonga, and several other short-term loan companies, faced questions from the Business, Innovation and Skills Committee about how their industry works.

The high interest loans have faced criticism from many, including church leaders.

Simon Gompertz reports.

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