H&R Block Inc. on Tuesday announced that it will change its refund-anticipation loan program to make sure customers fully understand it and realize their debts could affect their loan. The changes to the program, in which H&R Block lends customers the money they expect to receive from a tax refund, comes two months after a federal judge approved a $39 million settlement in a long-running class-action lawsuit against the tax-preparation company by customers who claimed they paid too much for the loans.
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The new bank already has one branch that opened on Monday, in Bethesda, outside Washington, D.C. Besides offering loans and deposits, that office also offers check-cashing services. The new charter will also be used for the bank’s pending expansion into Connecticut later this month.
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HSBC USA has established a second nationally chartered bank, based in Maryland, to make it easier for the British-owned bank to expand its U.S. branch network. The new HSBC National Bank USA is a sister to Delaware-based HSBC Bank USA, which now operates all but one of HSBC’s U.S. branches, including all of those in New York State.
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Popularity: 5% [?]
