Also in the Christmas spirit, NBC's In Depth report studied so-called Holiday Loans offered by tax preparation businesses to help with the Christmas shopping in anticipation of an income tax refund after the New Year. Kevin Corke found an audio conference call in which Mark Ernst, CEO of H&R Block, denounced the loans as "really not a good value for consumers."
But when one of Block's competitors offered the loans, Block got into the business too. Block bragged that its rates were not nearly as usurious as those at Jackson Hewitt--Block charges only 36% annual interest.
You must be logged in to this website to leave a comment. Please click here to log in so you can participate in the discussion.