At this time of widespread economic crisis when many families are experiencing financial hardship, consumer advocates are calling on regulators to prevent banks and tax preparers from making usurious refund anticipation loans which take a big bite out of low-income people’s tax refunds.

The California Reinvestment Coalition joins 30 consumer groups nationwide at a hearing on Thursday testifying before the Office of Thrift Supervision to oppose Republic Bank’s application for a charter in order to merge with Republic Bank & Trust Company.

Republic is one of the nation’s top providers of refund anticipation loans (RAL). The Kentucky-based bank charges the most expensive RAL fees of any lender, ranging from $34 to $125 and amounting to an APR of at least 161%. For…

ORTLAND, Ore. — The admissions team at Reed College, known for its free-spirited students, learned in March that the prospective freshman class it had so carefully composed after weeks of reviewing essays, scores and recommendations was unworkable.

Money was the problem. Too many of the students needed financial aid, and the college did not have enough. So the director of financial aid gave the team another task: drop more than 100 needy students before sending out acceptances, and substitute those who could pay full freight.

College in Need Closes a Door to Needy Students, Jonathan D. Glater, New York Times, June 9, 2009

Here’s a simple question. Why is it that when a public institution is forced, or feels forced,…