12 CFR § 1041.7 - Identification of unfair and abusive practice.

---
identifier: "/us/cfr/t12/s1041.7"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1041.7 - Identification of unfair and abusive practice."
title_number: 12
title_name: "Banks and Banking"
section_number: "1041.7"
section_name: "Identification of unfair and abusive practice."
chapter_name: "CONSUMER FINANCIAL PROTECTION BUREAU"
part_number: "1041"
part_name: "PAYDAY, VEHICLE TITLE, AND CERTAIN HIGH-COST INSTALLMENT LOANS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 5511, 5512, 5514(b), 5531(b), (c), and (d), 5532."
regulatory_source: "82 FR 54871, Nov. 17, 2017, unless otherwise noted."
cfr_part: "1041"
---


# 1041.7 Identification of unfair and abusive practice.

It is an unfair and abusive practice for a lender to make attempts to withdraw payment from consumers' accounts in connection with a covered loan after the lender's second consecutive attempts to withdraw payments from the accounts from which the prior attempts were made have failed due to a lack of sufficient funds, unless the lender obtains the consumers' new and specific authorization to make further withdrawals from the accounts.