As used in this part, unless the context otherwise requires: “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 receives or […]
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 advertisement […]
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 […]
This part shall preempt and be exclusive of all local acts, statutes, ordinances and regulations relating to refund anticipation loans.
Any person who knowingly and willfully violates this part is guilty of a misdemeanor and shall be punished by a fine of no more than five hundred dollars ($500) for each violation.
