There is no reason for tax refund anticipation loans to exist. The industry targets a poor audience, charges high fees and provides a "service" that is not really a service. People wait all year for a tax refund. They can wait another two weeks or so.[...]It's easy to eliminate an industry with a dubious business model and a laundry list of regulatory violations. It's harder to eliminate a business where Magic Johnson is its public face. Because of Johnson, the tax refund business might stick around, luring in more millions of Americans. Although I admire his place in basketball history, it's now hard for me to think of Johnson as a magic man.