A Labour MP warned legal loan sharks who prey on Britain's poorest people have been "let off the hook again" by the Con-Dem government.
Stella Creasy MP accused the government of "ducking the real issues" after Business Minister Jo Swinson unveiled new rules on how and when payday lenders like Wonga can advertise.
Ms Creasy joined trade unions in calling for the government to put a cap on the interest rates payday lenders are allowed to charge, which can exceed 2,500 per cent APR.
Unite general secretary Len McCluskey said payday lenders were cashing-in on "the misery of Tory economics."
That call came after the Office for Fair Trading (OFT) issued Britain's 50 biggest payday lenders with a 12-week warning to clean up their act or risk losing their licence.
The OFT warned the government that "irresponsible lending is not confined to a few rogue payday lenders."
In response, Ms Swinson said a new Financial Conduct Authority will from April 2014 have the power to cap interest rates but added: "The evidence at the moment doesn't point to that being the best solution."