In 2012, H&R Block won’t offer any more refund-anticipation loans

By: Bloomberg News September 13, 2011

H&R Block Inc., the biggest preparer of U.S. tax returns, won’t offer loans tied to the size of customers’ refunds. H&R Block first halted so-called refund-anticipation loans last year after regulators told the bank that provided financing to stop, the Kansas City-based company said Tuesday in a statement. “Knowing we had a strong 2011 tax season without RALs, our analysis did not present a compelling reason to bring back the product in 2012,” Chief Executive Officer Bill Cobb said in the statement.

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In 2012, H&R Block won’t offer any more refund-anticipation loans

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