The Office of Fair Trading has proposed referring the payday lending sector to the Competition Commission after it found evidence of "deep-rooted problems" in how lenders compete.
It follows the publication of a final report into the £2 billion payday lending sector.
More top news
The EU will not hold talks with the UK until it triggers Article 50 to leave, Germany, France and Italy insist.
Jamie Oliver has launched an expletive-filled rant against Boris Johnson, calling on the public to ensure he does not become Prime Minister.
David Cameron has addressed Parliament for the first time since Britain voted to leave the European Union.