The Housing Center recognizes that fair housing cannot be accomplished without fair lending. The Consumer Financial Protection Bureau (CFPB) was created to make markets for consumer financial products and services work for Americans, including mortgage products. Discrimination in lending is prohibited under the Fair Housing Act. As the CFPB website states, “An informed consumer is the best line of defense against abusive practices.” The CFPB website is a great way to learn before you make major financial decisions, and with tax time upon us, many are on the verge of making major purchases with their anticipated refund. The CFPB now has an additional resource for income tax filing help. Find free, local tax prep & filing resources at the new Consumer Financial Protection Bureau Blog.
This time of the year, there are many companies offering fee-based tax preparation services. Their ads sometimes suggest you can get an instant refund, which in reality is a rapid anticipation loan. This loan is often expensive, eating away at your refund with loan application and preparation fees. If the IRS determines there was an error on your return, you are still obligated to repay the refund and all of the loan fees. Some also encourage you to apply your refund to one of their products, (i.e. new cars, etc.). Before making spur-of-the-moment decisions, read the new blog post at www.consumerfinance.gov/blog/getting-a-grip-on-income-tax-season