H&R Block bank unit a key issue in proxy battle

(Reuters) - By shutting down its new banking business, which recently
launched a credit card and encourages tax filers to open
savings accounts, the company can avoid onerous capital rules
set by bank regulators, Breeden said.




"We will seek to put H&R Block in a position where it is
free to structure the mix of debt and equity on its balance
sheet without regard to capital rules relating to the banking
business," the letter said. "We believe this will allow more
cash to be returned to shareowners each year."


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