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KANSAS CITY, Mo. (AP) - Federal regulators have told H&R Block Inc. they need another month to review the company's request to start its own bank.
The U.S. Office of Thrift Supervision was supposed to decide on the Kansas City-based company's application by Feb. 17. Instead, the agency said it would extend the deadline for 30 days to further consider the matter, company spokeswoman Linda McDougall said Wednesday.
H&R Block, the nation's largest tax preparer, said it wants a bank charter to provide a cheap banking alternative for tax clients and other customers who don't typically use mainstream banks.
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