Church of England still holds Wonga stake But he said the £80,000 stake in Wonga, which he described as being held "indirectly at three stages removed," is still on the books due to complications with selling it off. The Archbishop said that since the stake is part of a common pool investment vehicle, that the Church Commissioners, who run the fund, must "work out how they can dispose of those shares without disposing of millions and millions of pounds of investment at a loss." "They have a responsibility to pensioners," he added. Payday lenders have faced heavy criticism in recent months for targeting vulnerable customers and charging high interest rates, which can exceed 5,000pc on an annual basis. The sector is to face tougher rules from regulators when the FCA assumes oversight of the industry in April 2014. New measures are to include an interest rate cap, a ban on misleading adverts, an obligation to carry out affordability studies and a two-time limit on the number of times a loan can be rolled over.