Consumer Protections
If the Great Recession taught us anything, it's that regulations matter. In this section you'll find information on lightly regulated industries and products that thrive on low-income workers.
Regulation of Paid Tax Preparers
Low-income families pay an average of $160 to have their taxes done by paid preparers. Some pay much more. It's money they cannot afford to lose—especially if preparers are not equipped to help low-income families claim their full refunds and all the credits to which they're entitled. The NCTC supports establishing industry standards for paid tax preparers through eligibility exams and certification requirements. Learn more about our work in this area.
Refund Anticipation Loans
Refund Anticipation Loans (RALs) take advantage of the urgent need for low-income families to get by day-to-day. When a family is expecting a tax refund, RALs promise to deliver the refund faster than the government—but only after pocketing part of that hard-earned refund for themselves. Low-income families need every cent of their refund. NCTC supports restricting marketing and lending at tax time and expanding options that encourage saving and using mainstream financial tools.
Payday Lending
Thriving in low-income areas where few banks operate, payday lenders take a chunk out of people's paychecks. NCTC works to raise awareness of how payday lenders weaken families and communities.
