DORA reviews tax refund lenders

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Colorado’s Department of Regulatory Agencies’ Office of Policy, Research and Regulatory Reform is conducting a sunrise review to determine whether the General Assembly should reguire regulation of tax refund lenders.

A sunrise review examines whether new regulation is necessary to protect the public. A refund anticipation loan is a short-term loan secured by and repaid with a consumer’s Internal Revenue Service tax refund.

DORA will submit its findings to the General Assembly by Feb. 16.

To comment, visit OPRRR’s Web site.