H&R; Block Plans to Reduce Refund Loans

H&R; Block Inc., accused by clients of gouging as many as 17 million tax preparation customers on refund loans, said it would work with an advocacy group for low-income families to reduce sales of the loans.

The tax-preparation company and the Assn. of Communication Organizations for Reform Now said they were collaborating to help more clients understand that a loan may be unnecessary because refunds often come in as few as eight days.

The Supreme Court on Monday refused to break up a class-action suit that accused the Kansas City, Mo.-based company and banking partner Household International Inc. of charging interest rates of more than 100% for customers who wanted their tax refunds two weeks earlier than they would get the money from the Internal Revenue Service.