Report By NCLC and CFA: Refund Anticipation Loans With A Twist

     The National Consumer Law Center and the Consumer Federation of America have just issued a report exposing new forms of tax refund anticipation loans (RALs), called "pay stub" and "holiday" RALs. The report and the groups' press release explains that consumers now have the opportunity for crushing debt at triple-digit interest rates well before tax season arrives.  The report's conclusion is blunt:  "Pay stub and holiday RALs represent a new and more insidious threat to the tax refunds and Earned Income Tax Credits of low-income taxpayers."  Definitely worth reading.