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

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