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.
You are viewing a previous version of this regulation with amendments that went into effect on Jan. 16, 2018.
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