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January 18, 2013

A California Court affirmed a previous ruling against Liberty Tax Services yesterday, rejecting an appeal by the company that it did not violate numerous state and federal laws.

As a result of the decision (People vs. JTH Tax, Inc.), Liberty will pay approximately $1.169

January 16, 2013

Some details of the terms of Liberty Tax Service's new refund anticipation loan product, known as the Instant Cash Advance, are becoming clear as the tax season approaches.

Through its non-bank subsidiary, JTH Financial, Liberty will charge $49.90 for the

January 15, 2013

Green Dot introduced GoBank, its new mobile checking account, at a presentation in San Francisco today. GoBank is such a change from the traditional Green Dot prepaid card that it is hard to know where to start in talking about it. Even Green Dot seems ready for some surprises - they are rolling out the card on a limited release for now, and they may make updates to the card's features as often as every two weeks. But count me impressed because it is very affordable, it does a lot, and it gives people plenty of opportunities to tailor how they do their banking.

You may have noticed that banks are about as hesitant to change as can be. One survey said that consumers see banks as

January 15, 2013

Green Dot will make a presentation this afternoon to explain its new mobile checking account platform.

Last spring, Green Dot acquired Loopt for $43.4 million. Some said that Green Dot prized Loopt's staff, but its also true that Loopt came with more than just people: Loopt had acquired its own fair share of patents.

Loopt was a shopping platform which used the GIS information from smart phones to give its users access to special offers at

January 14, 2013

The BillMyParents prepaid debit card received lots of press earlier this month after it announced a new relationship with Justin Bieber.

Most of the reporting focused on two things: first, how the card might position itself amid a

January 11, 2013

Through a new partnership with BillFloat, Jackson Hewitt Tax Service will have a product which will allow its customers to access cash during the upcoming tax season.

Now we have a better idea of how the company will replace its refund anticipation loans. It is also a coming out of sorts for

January 9, 2013

One the eve of tax season, Liberty Tax has secured a large increase on its revolving line of credit from a consortium of big banks.

Details on the Big Bank Financing

On December 28th, the SEC released an 8-K which reported that Liberty had secured a new revolving credit line and term loan agreement. SunTrust was the lead bank among a consortium of eight big banks who as a whole have extended a

January 9, 2013

Last night, the IRS announced that it will not accept returns until January 30th, marking the second time this year that it pushed back the start of the tax season.

Traditionally, filing gets underway on or about the 15th of January. During those two weeks, millions of people rush to get their

January 8, 2013
The inside of the H&R Block store in Gallup, New Mexico where customers received cash advance on their tax refund last year.
January 8, 2013

A non-profit group representing the Native American community has reported that some of its clients are getting refund anticipation loans from an H&R Block store in Northwestern New Mexico.

"They offer these products beginning in November," says Shawn Spruce of First