2010 Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 7 - Consumer Protection
Chapter 116 - Refund Anticipation Loan Act
§ 4-116-107 - Prohibited activities.

4-116-107. Prohibited activities.

A facilitator shall not:

(1) Require a consumer to enter into a loan agreement in order to complete a tax return;

(2) (A) Charge or impose any fee or charge or require other consideration in the making or facilitating of a refund anticipation loan or refund anticipation check apart from the fee charged by the creditor or bank that provides the loan or check.

(B) (i) This section does not prohibit the charge or fee imposed by the facilitator to all of its customers if the same fee in the same amount is charged to customers who do not receive refund anticipation loans, refund anticipation checks, or other tax-related financial products.

(ii) This fee may include fees for tax return preparation;

(3) Engage in a transaction, practice, or course of business that operates a fraud upon a consumer in connection with a refund anticipation loan or refund anticipation check, including making oral statements contradicting any of the information required to be disclosed under this chapter;

(4) Directly or indirectly arrange for any third party to charge an interest, fee, or charge related to a refund anticipation loan or refund anticipation check, other than the refund anticipation loan or refund anticipation check fee imposed by the creditor, including without limitation charges for insurance, attorney's fees, other collection costs, or check cashing.

(5) Misrepresent a material fact or condition of a refund anticipation loan or refund anticipation check; and

(6) Fail to process the application for a refund anticipation loan promptly after the client applies for the loan.