section who— (1) is incompetent, (2) is disreputable, (3) violates regulations prescribed under this section, or (4) with intent to defraud, willfully and knowingly misleads or threatens a consumer. (e) Tax return preparer subject to section A tax return preparer is subject to this section if such preparer is not subject to section 330 of title 31, United States Code. (f) Definitions For purposes of this section— (1) Tax return preparer See section 7701(a)(36) for the definition of a tax return preparer. (2) Refund anticipation payment arrangement The term refund anticipation payment arrangement has the meaning given such term by section 1029B(d)(2) of the Consumer Financial Protection Act of 2010. . (b) Clerical amendment The table of sections for subchapter A of chapter 80 of the Internal Revenue Code of 1986 is amended by inserting after the item related to section 7811 the following new item: Sec. 7812. Regulation of tax return preparers. . (c) Effective date The amendments made by this section shall apply with respect to returns filed after December 31, 2017. 3. Regulation of refund anticipation payment instruments (a) In general Subtitle B of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 et seq.) is amended by adding at the end the following new section: 1029B. Regulation of refund anticipation payment arrangements (a) In general The Bureau shall regulate refund anticipation payment arrangements. (b) Disclosure requirements The Bureau shall, by rule, require tax return preparers subject to this section offering a refund anticipation payment agreement to provide a disclosure statement to a consumer that shall contain statements— (1) identifying the amount of fees for executing a refund anticipation payment arrangement