Community Development Banking List
12-17-2009, 04:46 PM
Original message from: adam@cra-nc.org
Jackson Hewitt is going to offer a line of credit to customers that load
their RAL refund on to their
i-power card. The line of credit is through MetaBank.
Metabank charges a $2.50 fee per $20 that customers borrow through the
line of credit. The funds must be repaid in 35 days.
At best, the APR is 150 percent.
http://banktalk.org/2009/12/17/the-final-frontier-ral-meets-payday/ ('http://banktalk.org/2009/12/17/the-final-frontier-ral-meets-payday/')
Adam Rust
CRA-NC
Jackson Hewitt is going to offer a line of credit to customers that load
their RAL refund on to their
i-power card. The line of credit is through MetaBank.
Metabank charges a $2.50 fee per $20 that customers borrow through the
line of credit. The funds must be repaid in 35 days.
At best, the APR is 150 percent.
http://banktalk.org/2009/12/17/the-final-frontier-ral-meets-payday/ ('http://banktalk.org/2009/12/17/the-final-frontier-ral-meets-payday/')
Adam Rust
CRA-NC