H&R Block (HRB) has reached a proposed settlement with the Federal Trade Commission, agreeing to pay $7 million for consumer redress and to make key adjustments to its tax filing services by the 2025 tax season, the FTC said.
Under the terms of the agreement, H&R Block will make it easier for users to downgrade to lower-cost products without contacting customer service and stop deleting previously entered data upon downgrades, the commission said. By the 2026 filing season, the company would be required to stop completely deleting customer's previously entered information, it added.
The agreement also mandates clearer advertising of the limitations on "free" filing services, addressing the FTC's allegations of deceptive practices, the regulator said. The proposed order also requires the company to disclose either the percentage of taxpayers eligible for its "free" filing service or disclose that most taxpayers do not qualify, it added.
The settlement awaits final public comment before implementation, according to the commission.
H&R Block did not immediately respond to MT Newswires' request for comment.
Shares of the company were down nearly 2% in recent trading.
Price: 60.11, Change: -1.14, Percent Change: -1.86
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。