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(a) If a consumer applies for a refund anticipation loan, the facilitator shall orally inform the consumer:
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(1) That the product is a loan that lasts one (1) or two (2) weeks;
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(2) That if the consumer’s tax refund is less than expected, the consumer is liable for the full amount of the loan and must repay any difference;
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(3) The amount of the refund loan fee; and
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(4) The refund anticipation loan interest rate.
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(b) If a consumer applies for a refund anticipation check, the facilitator shall orally inform the consumer:
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(1) The amount of the refund check; and
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(2) That the consumer may receive a refund in the same amount of time without a fee if the tax return is filed electronically and if the consumer directly deposits the refund in the consumer’s own bank account.
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(c) The disclosures required in this section shall be provided in the language primarily used for oral communication between the facilitator and the consumer.