WASHINGTON - (04/20/05) -- A bill introduced in the Senate thisweek aims to protect low-income families from high fees charged fortax refund anticipation loans by providing grants to connect taxpreparation services for working families with the opening of acredit union or bank account. The goal is to eliminate excess feesmany providers of instant tax refunds charge, according to Sen.Daniel Akaka, D-Ha., one of the sponsors of the bill. The billwould also give the Treasury Department authority to regulate taxpreparers; require providers of refund anticipation loans toregister with the Treasury and comply with disclosures on fees; andrequire the Treasury to conduct a public awareness campaign onthose costs and fees.
-
As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3