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Republic Dropping Top RALs to $1,500

Saturday, 18 December 2010
News
Republic Bank logoRepublic Bank expects that during the upcoming tax season it will reduce the amount of money available for refund anticipation loans by 50 percent or more while the maximum amount of individual RALs will fall to $1,500. It also said it is shifting much of its RAL funding to the  troubled Jackson Hewitt Tax Service. Republic filed a statement about its program with the SEC the same day that Jackson Hewitt filed documents in which it said it would offer RALs about 4,200 locations.

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