Terms Used In Tennessee Code > Title 62 > Chapter 29 > Part 2 - Refund Anticipation Loans

• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Applicant: means a customer who applies for a refund anticipation loan through a facilitator. See Tennessee Code 62-29-201
• Borrower: means an applicant who receives a refund anticipation loan through a facilitator. See Tennessee Code 62-29-201
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Customer: means an individual for whom tax preparation services are performed. See Tennessee Code 62-29-201
• Facilitator: means a person who receives or accepts for delivery an application for a refund anticipation loan, delivers a check in payment of refund anticipation loan proceeds or in any other manner acts to allow the making of a refund anticipation loan. See Tennessee Code 62-29-201
• Fraud: Intentional deception resulting in injury to another.
• Person: means an individual, a firm, a proprietorship, an association, a corporation or another entity. See Tennessee Code 62-29-201
• Refund anticipation loan: means a loan, whether provided through a facilitator or by another entity such as a financial institution, in anticipation of and whose payment is secured by a customer's federal or state income tax refund, or by both. See Tennessee Code 62-29-201
• Refund anticipation loan fee: means any fee, charge or other consideration imposed by a lender or a facilitator for a refund anticipation loan. See Tennessee Code 62-29-201
• Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Tax return: means a return, declaration, statement, refund claim or other document required to be made or filed in connection with state or federal income taxes. See Tennessee Code 62-29-201
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105