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HR Block Sued by NY Attorney General

by | Mar 19, 2006 | Uncategorized

HR Block Sued by NY Attorney General

More than half a million eager savers signed up for H&R Block’s Express IRA product in recent years, and plenty of them are probably wondering how to unravel that decision now.

With its steep fees and low interest rates, H&R Block’s retirement-savings product generally depleted account balances instead of building nest eggs, New York Attorney General Eliot Spitzer charged in a lawsuit filed Wednesday. See full story.

The product’s fees exceeded the interest paid for 85% of Express IRA customers overall, the lawsuit said.