H&R Block

The agreement comes a day after Axos Financial warned that H&R Block was ending their six-year-old partnership.

Tax Refund Anticipation Loans (RALs) are short term loans that are made by Lenders, through tax preparers, which are secured by a taxpayer’s tax refund.

With interest and fees associated with RALs, the effective annual percentage rate for these loans are often in the triple digits.