Payday lenders could be forced to place "risk warnings" on their adverts to advise borrowers about the dangers of debt.
It is one of several new rules being proposed by the Financial Conduct Authority (FCA) to protect consumers. Under the plans, the FCA would also be able to ban any loans, or adverts, that it did not approve of. The payday loans industry said it would welcome the changes if they helped to protect consumers. Martin Wheatley, the FCA's chief executive, said: "Today I'm putting payday lenders on notice: tougher regulation is coming and I expect them all to make changes so that consumers get a fair outcome. The clock is ticking."....Read more here