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

Most recently amended Aug. 16, 2019

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

Small entity compliance guide

2019 final delay rule (delaying compliance date for mandatory underwriting provisions)

2019 notice of proposed rulemaking (proposing to rescind the mandatory underwriting provisions)

2017 final payday lending rule