§ 6.2-2502 — Prohibited activities

Virginia § 6.2-2502

• Jurisdiction: Virginia
• Title 6.2: FINANCIAL INSTITUTIONS AND SERVICES
• Subtitle IV: OTHER FINANCIAL ACTIVITIES
• Ch. 25: REFUND ANTICIPATION LOANS

Text

Any facilitator who offers to facilitate, or who facilitates, a refund anticipation loan shall not:

1. Require a customer to enter into a loan arrangement in order to complete a tax return;

2. Misrepresent a material factor or condition of a refund anticipation loan;

3. Fail to process the application for a refund anticipation loan promptly after an applicant applies for the loan; or

4. Engage in any transaction, practice, or course of business that operates a fraud upon any person in connection with a refund anticipation loan.

Legislative History

2006, c. 399, § 6.1-476; 2010, c. 794.