Tax Refund Anticipation Loans are a Ripoff

by Dual Income No Kids on February 26, 2009 · 0 comments

Hi All,

Its another ridiculously busy day here in DC. At the moment I’m getting some class reading finished up so there won’t be time for a full length substantive posting.

However, here is a very good video by money talks news. They’ve done a quick expose on tax return refund anticipation loans. In case you don’t know what a refund anticipation loan is, its a high-profit, low-risk loan typically marketed towards the working poor. These products have been heavily criticized by consumer advocacy groups as a form of modern loan sharking, as they are not the best products for long-term wealth generation, which is something the working poor desperately need for a brighter future. I agree.

Check out the video.

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