§ 6.2-2504. Preemption of local laws
This chapter shall preempt and be exclusive of all ordinances of any locality relating to refund anticipation loans. This section shall be given retroactive and prospective effect. 2006, c. 399, § 6.1-478; 2010, c. 794.
§ 6.2-2505. Violations; enforcement
Any violation of the provisions of this chapter shall constitute a prohibited practice under the provisions of § 59.1-200 and shall be subject to any and all of the enforcement provisions of the Virginia Consumer Protection Act (§ 59.1-196 et seq.). 2006, c. 399, § 6.1-479; 2010, c. 794.
§ 6.2-2503. Right of rescission
A borrower who obtains a refund anticipation loan may rescind the loan, on or before the close of business on the next day of business, by either returning the original check issued for the loan or providing the amount of the loan in cash to the lender or the facilitator. The facilitator may not charge […]
§ 6.2-2500. Definitions
As used in this chapter, unless the context requires a different meaning: “Applicant” means a customer who applies for a refund anticipation loan through a facilitator. “Borrower” means an applicant who receives a refund anticipation loan through a facilitator. “Customer” means an individual for whom tax preparation services are performed. “Facilitator” means a person who […]
§ 6.2-2501. Advertising; posting refund anticipation loan fee schedules; and disclosures
A. Any facilitator who advertises the availability of a refund anticipation loan shall not directly or indirectly represent the loan as a customer’s actual refund. Any advertisement that mentions a refund anticipation loan shall state conspicuously that it is a loan and that a fee or interest will be charged by the lending institution. The […]
§ 6.2-2502. Prohibited activities
Any facilitator who offers to facilitate, or who facilitates, a refund anticipation loan shall not: 1. Require a customer to enter into a loan arrangement in order to complete a tax return; 2. Misrepresent a material factor or condition of a refund anticipation loan; 3. Fail to process the application for a refund anticipation loan […]