For a lot of people borrowing from a payday lender "is not a good idea" and they can find themselves getting further into debt, a finance chief told Good Morning Britain.
Financial Conduct Authority (FCA) chief executive, Martin Wheatley, admitted the interest cap on payday loans would "restrict the availability of loans to some people" but it would keep customers away from toxic debt.
More top news
Data-selling companies trade personal addresses and phone numbers for as little as 4p per record, a watchdog has warned.
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."