The Competition and Markets Authority has decided payday loans are more expensive due to a lack of competition in the sector.
ITV News Business Editor Joel Hills reports:
Competition and Markets Authority decides payday loans are more expensive than they should be due to a lack of competition between lenders.
CMA looking at creating independent price comparison website for payday loans and clearer disclosure of charges if loan not repaid on time.
More top news
A bitterly cold airmass covers the UK this weekend.
The emotion of Donald Trump's inauguration was too much for Jessica Starr, who told ITV News: "I'm so sorry... this is not America."
Prince William and Kate have announced they are to become 'full-time' Royals as they move their family back to London from Norfolk.