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
Hefty showers and longer, slow moving downpours into this evening and again on Saturday - some lively with thunder.
We are entering - and we have voted to enter - a period of intense political and economic uncertainty.
David Cameron has announced he is to resign as prime minister by October. We look at who could replace him.