§ 16-901. Short title and purpose.

(a)

This article may be known and be cited as "refund anticipation loan regulation." This entire chapter shall be deemed an exercise of the police power of the city for the protection of the public economic and social welfare, health, peace and morals, and for the protection of consumers who are offered and/or enter into refund anticipation loans, refund anticipation checks, assisted direct deposits, and other similar transactions facilitated in the city, and shall be liberally construed to effectuate its purpose.

(b)

Nothing in this chapter shall be construed to regulate the practices of lending institutions governed by federal and/or state banking laws.

(c)

Nothing in this chapter shall be construed to relieve a facilitator as defined herein of complying with any legal or regulatory obligation(s) that may apply to it under federal, state, or other local law, including but not limited to the federal Truth-in-Lending Act.

(Ord. No. 2006-03-23-0370, § 1(Exh. A), 3-23-06)