Washington · statute · Wash. Rev. Code ch. 19.265 · 8 active provisions
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Borrower" means a taxpayer who receives the proceeds of a refund anticipation loan.(2) "Department" means the department of financial institutions.(3) "Director" means the director of the department of finan…
(1) No person may individually, or in conjunction or cooperation with another person act as a facilitator unless that person is:(a) A tax preparer or works for a person that engages in the business of tax preparation;(b) Accepted by the internal revenue service as an authorized IRS e-file provider; and(c) Registered wi…
(1) For all refund anticipation loans, a facilitator must provide clear disclosure to the borrower prior to the borrower's completion of the application. The disclosure must contain the following:(a) The refund anticipation loan fee schedule; and(b) A written statement, in a minimum of ten-point type, containing the fo…
A borrower may rescind a loan, on or before the close of business on the next day of business, by either returning the original check issued for the loan or providing the amount of the loan in cash to the lender or the facilitator. The facilitator may not charge the borrower a fee for rescinding the loan or a refund an…
It is unlawful for a facilitator of a refund anticipation loan to engage in any of the following activities:(1) Misrepresent a material factor or condition of a refund anticipation loan;(2) Fail to process the application for a refund anticipation loan promptly after the consumer applies for the loan;(3) Engage in any…
Any person who knowingly and willfully violates this chapter is guilty of a misdemeanor and shall be fined up to five hundred dollars for each offense.
The legislature finds that the practices covered by this chapter are matters vitally affecting the public interest for the purpose of applying the consumer protection act, chapter 19.86 RCW. A violation of this chapter is not reasonable in relation to the development and preservation of business and is an unfair or dec…
This chapter may be known and cited as the tax refund anticipation loan act.