A federal judge has approved a $39 million settlement against H&R Block Inc. (HRB) by customers who claimed they paid too much for refund anticipation loans.
Block has agreed to pay in cash in addition to an estimated $850,000 in interest for six months. The program offered customers an immediate availability of funds in return for a fee. Block states that their customers knew these were loans.
The company stated, in this Newsweek.com article, that “We view it as fair and beneficial to the class members and we’re eager to put this nearly decade-long lawsuit behind us as we continue preparing for the upcoming tax season,” the company said.
Know More about loans and credit at BizCreditPolicy.com.
I AM ACTUALLY PART OF THE RECENT LAWSUIT AGAINST H&R BLOCK AND WONDERED WHEN CONSUMERS WERE GOING TO BE NOTIFIED OF PAYMENTS...THANKS...
Posted by: MICHELE D. COLE | October 29, 2008 8:56 AM | Permalink to Comment