{"data":{"id":"us/12-cfr-1041.7","jurisdiction":"us","citation":"12 CFR 1041.7","heading":"Identification of unfair and abusive practice.","body":"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.","path":["Title 12—Banks and Banking","CHAPTER X—CONSUMER FINANCIAL PROTECTION BUREAU","PART 1041—PAYDAY, VEHICLE TITLE, AND CERTAIN HIGH-COST INSTALLMENT LOANS","Subpart C—Payments"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"6976a4b848853981a45edcccd5f0aa9568864fc7c7664a7e35f8daa961a18b86","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-1041.3","next":"us/12-cfr-1041.8"},"notice":"GroundRules: Original legal text. Not legal advice."}