The Real H&R Block and Rapid Refunds

It is tax season again and H&R Block is advertising on television, newspapers, and on the radio. Those who really ant a rapid refund or tax anticipation loan might not care that H&R Block has racketeering charges pending against them and fellow pedator Household International. Household is now owned by HSBC, but that didn’t stop the rapid refund and taxmasters team. This pair of scammers appealed all the way to the U.S. Supreme Court, where the court said the case will go forward in spite of their whining.

Customers, however, are the real victims. Charging $100 for a $500 loan against a tax refund that would have been in your mailbox in 10 days is what started the investigation. Do the rapid refund loan or don’t do it – that’s on you, and entirely your decision. But be aware of how information sharing goes on inside Household, HSBC, their affiliates and their merchants. Are you behind on your Best Buy Card payment? They make take that out of your tax refund. These programs are ripe for abuse. You’ve been warned once again.

Little known fact:

From October 29, 2001 through November 27, 2001, approximately 200 H&R Block brokers recommended and sold over $16 million worth of Enron bonds to more than 800 customers in approximately 40 states. As an incentive, H&R Block paid its brokers sales credits significantly higher than those typically paid for similar bonds. NASD charged that H&R Block received profits of over $500,000. When Enron declared bankruptcy on December 2, 2001, the value of those bonds plummeted to a fraction of the original investment, causing most H&R Block customers who invested in the bonds to lose substantially all of their investment..

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