Don't believe they hype. No one makes a free non-recourse loan. The new free RAL is neither free nor transparent.
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Refund Anticipation Loans
They're back. But free? Nothing is free.
Have you noticed how there is suddenly a lot going on with tax refund loans?
More details on the three financial products offered by Refundo.
Refundo is one example of the new no-fee, preparer-paid tax refund loan. Is it safe? Is it a good deal for consumers? Is it even fair to frame it in relation to the RALs of the past?
The Simple Cash Option is one of the products that has emerged in the period after the end of bank-funded refund anticipation loans to speed up the delivery of refunds to consumers.
The SCO is perhaps the most novel effort to re-invent the refund anticipation loan. Liberty offered its Instant Cash Advance on dollars sourced from
Several e-mails sent by top executives at ITS Financial, the parent of troubled tax preparer Instant Tax, indicate that the company has made plans to circumvent the permanent injuction issued by the U.S. District Court for the Southern District of Ohio.
On November 7th, the Court denied an appeal by ITS and went ahead with an order against the company and its founder, Fesum Ogbazion. A key aspect of the ruling was its dictum that ITS and its owner would be permanantly barred from operating a tax preparation business.
The US District Court for the Southern District of Ohio has issued a permanent injuction which forbids the ITS Financial and its owner, Fesum Ogbazion from preparing tax returns.
Republic Bank faces violations of the Truth-in-Lending Act, the Equal Credit Opportunity Act, the Federal Trade Commission Act, and the Gramm-Leach-Bliley Act. Additionally,
It would be a mistake to identify a potential regulatory intervention with the long-term problems that have led Jackson Hewitt to its current malaise.
Jackson Hewitt shares are trading at 55 cents a share this morning. That is off about 24