604B.220 - Prohibited practices by facilitator. - Nevada Statutes

604B.220  Prohibited practices by facilitator.  A facilitator of a refund anticipation loan shall not:

      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 customer applies for the loan;

      3.  Engage in any dishonest, fraudulent, unfair, unconscionable or unethical practice or conduct in connection with a refund anticipation loan;

      4.  Arrange for a lender to take a security interest in any property of the customer, other than the proceeds of the customer’s tax refund and the account into which that tax refund is deposited, to secure payment of the loan; or

      5.  Offer a refund anticipation loan to a customer in an amount that, when added to the refund anticipation loan fees and any other fees or charges related to the loan or the preparation of the tax return, exceeds the amount of the customer’s anticipated tax refund.

      (Added to NRS by 2005, 1645)