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Payday loan regulation: Martin Lewis and Michael Fallon

10 September 2012 Last updated at 13:40 BST

Martin Lewis claimed there was "pathetic weak regulation" for payday loan firms, while the public was also being spammed by firms looking to pick up money from PPI appeals.

He was debating the latest government plan to cut red tape with new Business Minister Michael Fallon who said it was small companies who created jobs "and we have got to help them do it".

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