JPMorgan Chase & Co. will stop financing tax-refund loans for about 13,000 independent U.S. preparers, according to a person at the bank briefed on the matter, a move that may drive customers toward H&R Block Inc.
Goldman Sachs Group Inc. saw $2.15 billion of its market value wiped out after an employee assailed Chief Executive Officer Lloyd C. Blankfein’s management and the firm’s treatment of clients, sparking debate across Wall Street.
H&R Block Inc. , the biggest U.S. tax preparer, expects to remain an independent company and will step up efforts to win online customers as more returns get filed electronically, Chief Executive Officer Alan Bennett said.
SharesPost Inc. and its president will pay $100,000 to resolve claims that the online marketplace for private-company shares acted as an unregistered broker, as U.S. regulators took their first action in a probe of trades involving non-public startups.
The U.S. Internal Revenue Service said it will no longer help banks including HSBC Holdings Plc and Republic Bancorp Inc. underwrite tax refund loans that lawmakers and consumer groups say carry unfairly high interest rates.