Advance Financial Reviews

Customer Federation of America

Customer Federation of America THE PARTY’S THROUGH FOR QUICKIE income tax LOANS: BUT TRAPS CONTINUE FOR UNWARY TAXPAYERS The NCLC/CFA 2012 Refund Anticipation Loan Report Chi Chi Wu, Nationwide Customer Law Center Adding writer: Jean Ann Fox, Customer Federation of America EXECUTIVE SUMMARY Reimbursement expectation loans (RALs) are 1 to 2 loans made by banks, facilitated by tax preparers, and secured by the taxpayer’s expected tax refund week. RALs can hold triple digit APRs, and expose taxpayers towards the dangers of unpaid financial obligation if [...]

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