MPs raise concerns over Asda’s link to app offering high-interest loans to staff

<p>Retailer’s owner has stake in Wagestream, which offers workers loans of up to £25,000</p><p>An influential group of MPs has sought assurances that Asda is not “squeezing staff” to drive profit after it emerged they are being offered high-interest loans by Wagestream, a company in which the retailer’s owner has a stake.</p><p>The business and trade select committee has written to Asda over its links to the “financial wellbeing app” that recently began offering the supermarket’s staff loans of up to £25,000. The default arrangements for Wagestream’s “workplace loans” involve debt repayments being directly deducted from workers’ pay packets.</p> <a href="https://www.theguardian.com/business/2025/sep/12/mps-asda-app-loans-wagestream">Continue reading...</a>