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March 3, 2022
On the web
TurboTax Maker Intuit Faces Tens of Millions in Fees in a Groundbreaking Legal Battle Over Consumer Fraud
ProPublica
“Faced with a class-action suit filed on behalf of customers who claim they were tricked into paying to file their taxes, TurboTax-maker Intuit knocked the case down. The company insisted its customers had agreed to forego their right to take their grievances to court and were required to use the private arbitration system instead. But even as Intuit was winning in the class-action case, that very arbitration system was being weaponized against the Silicon Valley company.”
May 17, 2021
On the web
Green Dot to Buy Tax Refund Unit From Republic Bank for $165M
American Banker
“Green Dot, a prepaid card issuer that entered the tax refund processing business seven years ago, announced a $165 million acquisition Friday that would expand its presence in the tax segment. The Pasadena, California-based company agreed to purchase the assets and operations of Republic Bank’s tax refund solutions business unit. The two companies said they expect the cash acquisition to close in the fourth quarter.”
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