Five Facts about the Business of Payday Lending
- Today there are about 11,000 Starbucks in the United States but 19,700 payday loan stores. There were 2,000 payday lending stores in 1996.
- Lenders made $29 billion in loans last year. (more…)
H&R Block owns the tax preparation software company that will channel financial products to tax filers in locations through the United States this year.
RedGear Technologies, based out of Utah, is a subsidiary of H&R Block. Block acquired RedGear a few years ago. RedGear’s primary product is TaxWorks, a tax software package designed to help preparers by offering (more…)
Two small midwestern banks will be providing tax refund transfers during the upcoming tax season. The transfers are being marketed under the name “QIK Funds.” They will be offered by Citizen’s Bank and by New Capital Bank. New Capital is a division of Marshall County State Bank.
The refund transfer is a version of the refund anticipation check (RAC). The checks are (more…)
The Supreme Court intends to hear a case whose effect could dramatically undercut most attempts to prove discrimination under the Fair Housing Act.
In Magner v. Gallagher, plaintiffs are petitioning the Supreme Court to reverse a judgment made by a lower appeals court that nullified (are you following the triple-negative legalese?) a (more…)