Tax Refund Lending

Tax-Refund Lender Settles Predatory Lending Claims Brought By CFPB

On April 14, 2015, the Consumer Financial Protection Bureau (“CFPB”) announced that it reached a settlement with a New Mexico-based tax-refund lender over claims that the lender steered borrowers to excessively costly products, failed to accurately disclose the APR for loans, and failed to notify the availability of refunds.  The CFPB alleged in…

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