The new rules for the payday loans industry "is a step forward" towards regulating "a disgrace of an industry", a Citizen's Advice Bureau chief has said.
Mike Dixon told Daybreak companies like Wonga lent to children, drunks and "people who have not got a snowball's chance in hell of paying back".
However, Mr Dixon wants to see "properly tough enforcement" so payday loan companies found breaking the new rules are prevented from lending again.
The FCA will take on new powers to ban adverts however there will be no new rules governing the interest rates charged by the companies.
New rules on the way for lenders in how they grant loans and demand payments, but no changes to the interest rates or fees they can charge.