The National Consumer Law Center and the Consumer Federation of America are predicting that this year’s tax season will be the final one that refund anticipation loans will be available on a large-scale, nationwide basis.
Consumer advocates have long warned against the use of RALs, arguing that they amount to high-interest loans targeted at low-income taxpayers. RAL providers began falling by the wayside last tax season after the loans became riskier for lenders to provide.
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