The Financial Conduct Authority's cap on the interest charges and fees set by payday lenders will ensure customers will never be hit with loan costs higher than the amount borrowed.
ITV News Business Editor Joel Hills has tweeted the FCA's key proposals:
FCA caps interest charges on payday loans and default fees. Overall cost of payday loan "will never exceed 100% of amount borrowed".
FCA says cost of borrowing a £100 payday loan for 30 days (repaid on time) will never exceed £24. It's currently £30.
FCA says default charges "cannot exceed £15". Wonga's was £30 but was recently lowered to £20.
More top news
A national newspaper reports Wright accepted £5,000 in £20 notes during a meeting in Leeds last month to help an agent sign players.
Overnight another band of rain will arrive across Scotland
The couple's tweet was composed using a Morse code telegraph machine during a visit to a Canadian museum.