---
kind: "section"
citation: "12 C.F.R. § 1041.7"
title: "12"
number: "1041.7"
heading: "Identification of unfair and abusive practice."
url: "https://uscodex.org/cfr/12/1041.7"
---

# §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.


## Notes

### Authority

Authority: 12 U.S.C. 5511, 5512, 5514(b), 5531(b), (c), and (d), 5532.

### Source

Source: 82 FR 54871, Nov. 17, 2017, unless otherwise noted.