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Banking & Credit

RALs/Tax Preparation

Despite the important role of tax preparation in the financial lives of many lower-income consumers, tax preparers are almost entirely unregulated in most states, leaving consumers responsible for inaccurate and fraudulent tax returns. CFA believes it especially important that the IRS and states establish licensing and tax preparer certification standards in response to growing evidence of frequent tax preparer errors and even misconduct.

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Most Recent Press Releases

  • Statement of Consumer Federation of America in Support of California Proposed Regulation on Fintech Consumer Credit
  • FDIC Should Downgrade FinWise Bank Over Predatory ‘Rent-a-Bank’ Lending
  • Statement of Consumer Federation of America Supreme Court Granting Cert in CFPB Case

Most Recent Testimony and Comments

  • Groups Urge U.S. House Committee on Financial Services to Oppose TABS Act
  • Groups Urge the Office of the Comptroller of Currency to Require Supervised Banks Make Reforms to Inequitable Overdraft Programs
  • Consumer Groups’ Statement for the Record to the Subcommittee on Financial Institutions and Monetary Policy of the U.S. House of Representatives Committee on Financial Services regarding “Revamping and Revitalizing Banking in the 21st Century”

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