HB 3640 would regulate tax refund products
Refunded tax dollars that could help low-income households make ends meet and spur economic activity in local communities are instead ending up in the hands of tax preparation companies that hawk tax refund products. These companies claim to offer quick tax refunds that are in fact high-interest loans or services with steep fees. Because these products often target low-income workers expecting an Earned Income Tax Credit (EITC) refund, they undermine a proven anti-poverty program.
Read the full report here: The EITC and Tax Refund Products by District