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MODEL REFUND ANTICIPATION LOAN ACT
National Consumer Law Center
December 2008
Introduction
Refund anticipation loans (Rails) are short term loans secured by and repaid from the
proceeds of a consumers
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What is revised model ral statute?
The revised model ral statute is a legal document that outlines the regulations and guidelines for managing and reporting RAL (Refund Anticipation Loan) transactions.
Who is required to file revised model ral statute?
Any financial institution or tax preparer that offers RAL loans to clients is required to file the revised model RAL statute.
How to fill out revised model ral statute?
The revised model RAL statute can be filled out by providing the required information such as the financial institution's details, client information, loan amount, interest rates, and other necessary transaction details.
What is the purpose of revised model ral statute?
The purpose of the revised model RAL statute is to ensure that financial institutions and tax preparers comply with the regulations and guidelines set by the governing authorities when offering RAL loans to clients.
What information must be reported on revised model ral statute?
The revised model RAL statute requires the reporting of financial institution details, client information, loan amounts, interest rates, fees, and other relevant transaction details.
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