12 CFR Part 1041 - Payday, Vehicle Title, and Certain High-Cost Installment Loans (Payday Lending Rule)
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
Other resources
Payday lending rule compliance resources
2019 final delay rule (delaying compliance date for mandatory underwriting provisions)
2019 notice of proposed rulemaking (proposing to rescind the mandatory underwriting provisions)