More than 1.5 million U.S. taxpayers have taken out loans against their anticipated 2016 refunds, fueled in part by the federal government’s delay in disbursing money to certain filers. Tax preparers are making unsecured loans that are free of interest and upfront fees in an effort to aggressively court customers. The emergence of these refund-advance loans marks a shift away from higher-margin products offered more than a decade ago...

Source: Wall Street Journal March 11, 2017 12:56 UTC