HOOD v. SANTA BARBARA BANK & TRU. Part I
Federal regulations governing lending and other banking activities do not preempt state consumer protection laws with regard to claims that lenders and their agents induced consumers to apply for rapid refunds without informing them that these were actually tax refund appreciation loans and that the applications contained a provision allowing lender to seize the anticipated refund if debtor had any prior outstanding refund appreciation loan debts payable to other refund appreciation lenders.
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