FTC Takes Action Against Tax Prep Company H&R Block For Wiping Consumers' Data, Deceptively Marketing 'Free' Online Filing; Complaint Outlines Unfair Deletion Of Tax Data When Consumers Attempt To Downgrade To More Affordable Products
Portfolio Pulse from Benzinga Newsdesk
The FTC has filed a complaint against H&R Block (HRB) for deceptive marketing practices and unfairly deleting consumers' tax data when they attempt to downgrade to more affordable products. The company is accused of misleading consumers by advertising its online tax filing services as 'free' and making the downgrade process cumbersome, requiring consumers to start their tax returns from scratch.
February 23, 2024 | 8:04 pm
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H&R Block faces FTC complaint for deceptive marketing and unfair consumer data deletion practices.
The FTC's complaint against H&R Block for deceptive marketing and unfair practices directly impacts the company's reputation and could lead to legal penalties, affecting investor confidence and potentially the stock price in the short term.
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