H&R Block Inc. has won regulatory approval to sell H&R Block Bank to BofI Federal Bank and expects to close the deal no later than Sept. 30.
The announcement is a huge milestone in the 15 months since H&R Block first announced the deal. The typical bank sale in the Kansas City area receives regulatory approval within three or four months, and the excessive delay in selling H&R Block Bank was starting to become a thorn in the side of investors eager to reap some benefits from the deal.
"We are very…
H&R Block Inc. has won regulatory approval to sell H&R Block Bank to BofI Federal Bank and expects to close the deal no later than Sept. 30.
The announcement is a huge milestone in the 15 months since H&R Block first announced the deal. The typical bank sale in the Kansas City area receives regulatory approval within three or four months, and the excessive delay in selling H&R Block Bank was starting to become a thorn in the side of investors eager to reap some benefits from the deal.
"We are very…