After months of calls for crackdowns, the authorities have this morning announced what they plan to do about what has been described as everything from a modern scourge to exploitation.
The FCA will take on new powers to ban adverts if they judge them misleading, they will limit how many times a lender can take money out to pay off debts automatically, and the boss of the authority, Martin Wheatley has warned them to clean up their act - "the clock is ticking" he says.
But what will disappoint campaigners is that they are not limiting the interest rates or charges that can be made.
The truth is the government and the authorities believe this industry has a place and many people use it without a hitch so have shied away from the most heavy handed approach.
This will leave them open to accusations that they're not doing enough.
But new rules are on their way even if for some they fall short. The FCA has to consult on the plans and they should come into force next year.