NAICS UNIVERSITY · Free research for insurance agents
Consumer Lending
NAICS 522291 · United States · 2022 edition
This U.S. industry comprises establishments primarily engaged in making unsecured cash loans to consumers.
Start with the work promised to the client.
For Consumer Lending, clarify the services, contracts and consequences of an error. Review professional liability (e&o/financial institution bond), cyber and data breach, employment practices liability. Confirm which professional activities and additional services the proposed coverage actually addresses.
Questions to ask
- What types of loan products are offered — personal installment, student loans, payday or high-rate products?
- In how many states is the operation licensed to lend, and is licensing current in all active states?
- Has the business received any CFPB, FTC, or state regulator inquiries, investigations, or enforcement actions?
- What volume of consumer records — loan applications, active accounts — does the operation maintain, and are they stored primarily on-premises or in the cloud?
- Are there prior E&O, cyber, or employment practices claims in the last five years?
- For Consumer Lending, what should the underwriter know about payday lending, high-rate installment lending, or loan products that have attracted state or federal regulatory scrutiny?
- For Consumer Lending, what should the underwriter know about prior cfpb enforcement actions, state licensing sanctions, or class-action litigation history?
- For Consumer Lending, what should the underwriter know about tribal lending structures or lending through unusual legal entity arrangements?
Activities described by this code
- Finance companies (i.e., unsecured cash loans)
- Personal credit institutions (i.e., unsecured cash loans)
- FINANCE AND INSURANCE 425
- Loan companies (i.e., consumer, personal, student, small)
- Student loan companies
Other activities to examine
- Accepting deposits and lending funds from these deposits: 5221 — Depository Credit Intermediation
- Arranging loans for others on a commission or fee basis: 522310 — Mortgage and Nonmortgage Loan Brokers
- Servicing loans or providing check cashing services: 522390 — Other Activities Related to Credit Intermediation
- Providing credit sales by issuing credit cards: 522210 — Credit Card Issuing;
- Factoring accounts receivables: 522299 — International, Secondary Market, and All Other Depository Credit Intermediation
Census classification reference
For educational purposes only. AI-generated insurance research and automated logic can contain errors. Independently verify classification and coverage decisions.
Compare another operationInsurance operations research — draft
Consumer lending establishments make unsecured cash loans directly to individuals — personal loans, student loans, and small consumer finance loans — without accepting deposits. Operations typically involve application processing, underwriting, loan servicing, collections activity, and compliance with federal and state consumer finance regulations. Many operations maintain branch office locations, online lending portals, or both.
Questions to investigate
- What types of loan products are offered — personal installment, student loans, payday or high-rate products?
- In how many states is the operation licensed to lend, and is licensing current in all active states?
- Has the business received any CFPB, FTC, or state regulator inquiries, investigations, or enforcement actions?
- What volume of consumer records — loan applications, active accounts — does the operation maintain, and are they stored primarily on-premises or in the cloud?
This insurance research was generated in April 2026. It has not received a complete human review. The October 12, 2026 audit checked codes and titles only, not descriptions or coverage assertions.