The Financial Conduct Authority has announced plans to impose a price cap on payday lenders from January 2015.
The FCA confirmed earlier this year it planned to cap the total cost of credit for all payday loan firms from early next year following pressure from the Government.
More top news
Cloud spoiling full blown blue skies
Millions turned out to vote in the local elections - here are the results.
A man caught swearing at a speed camera has been jailed for perverting the course of justice after trying to dodge 69 speeding charges