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Information Finder / Tax Loans / What are RAC's and RAL's?


What are RAC's and RAL's?
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Views: 643
Votes: 1
Anticipation loans, rapid refunds, refund anticipation loans and other loans against one's income tax return are high interest loans.  Many lawsuits were a result of non-disclosure or lack of full disclosure.  H&R Block - the nation's largest tax preparer - and HSBC were charged with racketeering, influence and corruption under RICO laws because of these loans.
Example: "New York plaintiff Lynne Carnegie paid $110 for a nine-day advance on a $500 tax refund. Block and Household took her money and never blinked."
Critics argue that there is a need for these loans.  Predatory lender Household International once boasted that they invented this type of loan.
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Household - HSBC Watch is the voice of HSBC account and cardholders. We are funded by Settlement Scams and All VoIP. We monitor customer trends for possible violations of Regulation Z and other possible illegal actions. We use your individual HSBC complaints and merchant complaint reports to perform trend analysis. We are not associated with HSBC, Household International, or their merchants. Some items used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act.