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H&R Block Alters Refund Loan Structure After 'Kickback' Lawsuits
Despite a barrage of criticism, H&R Block(HRB Quote) won't stop offering rapid tax refunds to clients anytime soon. It's simply too lucrative. But amid a slew of lawsuits alleging that the loans were a source of "kickback" revenue for the company, Block has decided to change the way it gets paid for them.
That adjustment will cut revenue by some $50 million this year, according to a press release issued Wednesday. ...
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