This is a welcome step in the right direction, but a restriction on advertising time does not go far enough.
These loans are targeted at financially vulnerable, often desperate people, and companies must be restricted - by regulation - from giving loans to those who simply cannot afford to repay them.
Cuts to trading standards have restricted the ability of officers to crack down on illegal loan sharks. Unison hopes the same mistakes will not be made with the new Financial Conduct Authority.
More top news
Once again low pressure drives our weather today with an active weather front bringing very windy and very wet conditions.
A young polar bear has won the affections of the internet after a video of her growing up was watching hundreds of thousands of times.
Twenty-one-year-old pair raise nearly £40,000 in the world's toughest row.