12 CFR Part 1041 - Payday, Vehicle Title, and Certain High-Cost Installment Loans (Payday Lending Rule)

Most recently amended Oct. 20, 2020

12 CFR Part 1041 regulates payday loans and other short-term loans, and certain vehicle title and high-cost installment loans.

Entities, products and services include:

Financial services providers
Small-dollar loans
Payment transfers
Payday loans
Vehicle title loans
Short-term loans
Longer-term balloon-payment loans
High-cost longer-term loans

This regulation covers topics such as:

Unfair and abusive practices
Mandatory underwriting provisions (ability to repay)
Prohibitions on certain payment transfer attempts
Disclosures of payment transfer attempts
Information furnishing
Registered information systems
Recordkeeping

Additional resources

Consumer FAQs

Payday loan basics and issues

Other resources

Payday lending rule compliance resources

User notice

The Bureau launched this resource to provide an easier-to-navigate electronic format for many of its regulations. This resource is not an official legal edition of the Code of Federal Regulations or the Federal Register, and it does not replace the official versions of those publications. The Bureau has made every effort to ensure the material presented in this resource is accurate; if you are relying on it for legal research, please consult the official editions of those sources to confirm your findings.