H&R Block Down 7% On Tax Refund Loan Loss (HRB)

Shares of H&R Block, Inc. HRB are down sharply this morning, losing 7% after the company announced last week that HSBC HBC would not be providing funding for the company's "tax-refund loan" program. The program was set up a few years ago for filers to receive a loan from H&R Block in anticipation of receiving a tax refund from the federal government. At last check, shares of the tax preparer were off 91 cents to $11.78, a drop of 7.17%.