Refund Anticipation Loans/Tax Prep

Consumer Information

Press Releases

Studies

Testimony and Comments


Consumer Information

  • Refund Anticipation Loans: Updated Facts and Figures, 01/17/06. (PDF)

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Press Releases

  • CFA and NCLC Release Report on Tax-Time Financial Products, 02/28/2014. (PDF)
  • Half of All Service Members Live in States that Permit High Cost Lending Not Covered by the Military Lending Act, 07/25/2013. (PDF)
  • New Report Documents Evolving Tax-Time Financial Products Market, 02/28/13. (PDF)
  • New CFA/NCLC Report Documents Twilight of RALs as Big Business, 01/29/12. (PDF)
  • One Last Bite: Final Year for Bank Tax Refund Anticipation Loans, 01/17/12. (PDF)
  • Consumer Groups Praise FDIC Settlement to Stop RALs, 12/09/11. (PDF)
  • Consumer Advocates Applaud H&R Block Decision to Forego RALs, 09/14/11. (PDF)
  • Consumer Advocates: FDIC Action Shows RALs are Unsafe and Unsound, 05/09/11. (PDF)
  • End In Sight For Quickie Tax Loans: Latest NCLC/CFA Report Documents Twilight of the Refund Anticipation Loan, 02/28/11. (PDF)
  • Consumer Advocates Applaud FDIC Action Against Unsafe and Unsound Refund Anticipation Loans, 2/11/11. (PDF)
  • Advocates Applaud Treasury Pilot Program to Speed Tax Refunds to Consumers with No Bank Account, 1/13/11. (PDF)
  • Major Changes for Tax Refund Loans: Fewer Loans Available, But More Pricey, 1/6/11. (PDF)
  • Consumer Advocates Applaud End of IRS-Provided Service to Refund Anticipation Lenders, 08/05/10. (PDF)
  • Consumer Federation of America Applauds President Obama's Signing of the Dodd-Frank Financial Reform Bill Into Law, 07/21/10. (PDF)
  • Consumer Federation of America Applauds Senate Vote on the Dodd-Frank Financial Reform Bill, 07/15/10. (PDF)
  • Consumer Federation of America Applauds House Passage of the Dodd-Frank Financial Reform Bill, 6/30/10. (PDF)
  • Consumer Federation Hails Financial Regulatory Reform Bill Passed by the Conference Committee as a Major Achievement, 06/25/10. (PDF)
  • Consumer Groups Support Free Direct Electronic Filing with IRS, 04/24/06. (PDF)
  • Consumer Groups to Testify before the IRS on Plan to Weaken Taxpayer Privacy Rules, 04/03/06. (PDF)
  • CFA Applauds Senator Dodd For Moving Forward on Financial Reforms, Calls for Improvements to Protect Consumers and Investors, 3/15/10. (PDF)
  • Beginning of the End?: Major Changes to Quick Tax Refund Loans Industry, 2/16/10. (PDF)
  • CFA and NCLC Call on Bank Regulator to Enforce Rules for Quickie Tax Refund Loans, 2/8/10. (PDF)
  • Beginning of the End?: Major Changes to Quick Tax Refund Loans Industry, 1/19/10. (PDF)
  • Consumer Federation of America Applauds President Obama's Speech on Financial Regulatory Reform, 09/14/09. (PDF)
  • Quickie Refund Loans: Bad for Consumers, Bad for the U.S. Treasury, 02/27/09. (PDF)
  • Consumers Urged to Keep More of Their Tax Refunds by Avoiding Quickie Loans, 01/21/09. (PDF)
  • Consumer Advocates Decry Use of Bailout Money to Make Predatory Loans to Working Poor Families, 01/05/09. (PDF)
  • Consumer Advocates Urge IRS to Stop Tax Preparers from Using Confidential Tax Returns to Sell Refund Anticipation Loans and Other Products, 04/08/08. (PDF)
  • CFA and NCLC Issue Annual Report on Refund Anticipation Loan Industry, 03/31/08. (PDF)
  • Positive Improvements for Tax Refund Loans, But Consumers Still Warned to Avoid Them, 01/18/08. (PDF)
  • IRS May Take One Step Forward For Taxpayers On Predatory Loans, But Takes One Big Step Back On Privacy, 01/07/08. (PDF)
  • Down, But Not Gone: Quick Tax Refund Loans Continue to Gouge Taxpayers and Military, 02/05/07. (PDF)
  • Down But Not Gone: Quick Tax Refund Loans Continue to Gouge Taxpayers, 01/16/07. (PDF)
  • Consumer Advocates Warn Taxpayers Against New "Pay Stub" Refund Anticipation Loans, 11/29/06. (PDF)
  • Consumer Groups to Testify before the IRS on Plan to Weaken Taxpayer Privacy Rules, 04/03/06. (PDF)
  • Consumer Groups Demand Improvements to IRS "Privacy" Rule Proposal, 03/09/06. (PDF)
  • Quick Tax Loans Skim Billions from Taxpayer Refunds, 02/03/06. (PDF)
  • National Consumer Law Center Report Documents IRS Subsidy to Refund Anticipation Loan (RAL) Industry, 07/05/05. (PDF)
  • Refund Anticipation Loans: Still a Bad Deal, 01/18/05. (PDF)
  • Quick Tax Loans Drain Over a Billion From American Workers, 01/29/04. (PDF)
  • Consumer Groups Alert Treasury of Privacy Violations by Free File Tax Preparation Websites, 03/25/03. (Read More)
  • Quick Tax Loans Cost Taxpayers Almost $2 Billion, 01/29/03. (PDF)
  • Consumer Groups Question the 'Free' in the IRS 'Free File' Program, 01/16/03. (Read More)
  • Consumer Groups Criticize Proposed IRS Pact with Commercial Preparers to Provide E-file Services, 09/05/02. (Read More)

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Studies

  • Consumers at Risk from Tax-Time Financial Products and Unregulated Preparers, 02/28/2014. (PDF)
  • Something Old, Something New In Tax-Time Financial Products: Refund Anticipation Checks and the Next Wave of Quickie Tax Loans, 02/28/13 (PDF)
  • 2012 CFA/NCLC Refund Anticipation Loan Report: The Party’s Over for Quickie Tax Loans: But Traps Remain for Unwary Taxpayers, 02/29/12. (PDF)
  • End of the Rapid Rip-Off: The NCLC/CFA 2011 Refund Anticipation Loan Report, 02/28/11. (PDF)
  • 50-State Small Dollar Loan Scorecard, 5/12/10. (PDF)
  • Major Changes in the Quick Tax Refund Loan Industry: the NCLC/CFA 2010 Refund Anticipation Loan Report, 2/26/10. (PDF)
  • Big Business, Big Bucks: Quickie Tax Loans Generate Profits for Banks and Tax Preparers while Putting Low-Income Taxpayers at Risk. The NCLC/CFA 2009 Refund Anticipation Loan Report, 02/27/09. (PDF)
  • Coming Down: Fewer Refund Anticipation Loans, Lower Prices from Some Providers, But Quickie Tax Refund Loans Still Burden the Working Poor: The NCLC/CFA 2008 Refund Anticipation Loan Report, 03/31/08. (PDF)
  • One Step Forward, One Step Back: Progress Seen in Efforts Against High Priced Refund Anticipation Loans, But Even More Abusive Products Introduced, 02/05/07. (PDF)
  • Pay Stub and Holiday RALs: Faster, Costlier, Riskier in the Race to the Bottom, 11/29/06. (PDF)
  • Another Year of Losses: High-Priced Refund Anticipation Loans Continue to Take a Chunk Out of Americans' Tax Refunds, 02/02/06. (PDF)
  • Refund Anticipation Loans Still Slicing Into Low-Income American's Hard-Earned Tax Refunds, 02/01/05. (PDF)
  • All Drain, No Gain: Refund Anticipation Loans Continue to Sap the Hard-Earned Tax Dollars of Low-Income Americans, 01/28/04. (PDF)
  • The High Cost of Quick Tax Money: Tax Preparation, 'Instant Loans, and Check Cashing Fees Target the Working Poor, 01/29/03. (PDF)

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Testimony and Comments

  • Letter to the IRS Urges Implementation of Split Refund Option, 02/14/11. (PDF)
  • Consumer Groups Urge Bank Regulators to Address Refund Anticipation Loans, 10/13/10. (PDF)
  • Comments to Treasury on Direct Deposit Proposed Rules Regarding SS and SSI Payments, 07/13/10. (PDF)
  • CFA Urges Congress to Pass the Dodd-Frank Conference Report Immediately, House Version, 06/28/10. (PDF)
  • CFA Urges Congress to Pass the Dodd-Frank Conference Report Immediately, Senate Version, 06/28/10. (PDF)
  • Letter to the Senate on Consumer Priorities in Financial Regulatory Reform Conference, 06/08/10. (PDF)
  • Letter to the House on Consumer Priorities in Financial Regulatory Reform Conference, 06/08/10. (PDF)
  • Comments Regarding Cooling-Off Rule Regulatory Review, 9/25/09. (PDF)
  • Position Paper: The Need for High Cost Lending Consumer Protections, 08/12/09. [PDF]
  • CFA and NCLC Comments to IRS Regarding RALs and the Improvement of Tax Preparation, 08/12/09. (PDF)
  • CFA Letter to Comptroller on Refund Anticipation Loan Bank Oversight, 04/15/09. (PDF)
  • Comments Regarding IRS Advance Notice of Proposed Rulemaking: Guidance Regarding Marketing of Refund Anticipation Loans (RALs) and Certain Other Products in Connection with the Preparation of a Tax Return, 04/08/08. (PDF)
  • Letter to Senators Grassley and Baucus on Privacy of Tax Return Information, 05/11/06. (PDF)
  • Free Direct Electronic Filing with IRS Support Letter, 04/24/06. (PDF)
  • Consumer Group Testimony on the Impact of Regulatory Relief Proposals Affecting Banks, Thrifts and Credit Unions, 03/15/06. (PDF)
  • Consumer Group Comments on IRS Proposed Changes to Regulations Governing How Tax Preparers Use and Disclose Confidential Taxpayer Information, 03/09/06. (PDF)
  • Consumer Group Comments on Amendments to Section 7216 Regulations and Revenue Guidance, 03/09/06. (PDF)
  • Testimony of CFA's Travis Plunkett on Current Proposals Considered for Regulatory Relief Legislation, 06/21/05. (PDF)
  • Consumer Groups Alert Treasury in Free File Privacy Violations, 03/24/03. (PDF)
  • Consumer Groups Urge IRS to Provide Online Filing on Its Own Website, 09/05/02. (PDF)

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