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MetaBank Reports 2018 Tax Season Preview

Published 10/11/2017, 09:08 AM
© Reuters.  MetaBank Reports 2018 Tax Season Preview
HRB
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GLEN
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CASH
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  • MetaBank, a wholly-owned subsidiary of Meta Financial (NASDAQ:CASH) expects to originate over $1.0B of interest-free refund advance loans across its multiple tax partners during the 2018 tax season.
  • Meta expects to retain significantly more refund advance loans on its balance sheet through June 30, 2018 against $576M retained last year leading to higher overall revenues, expenses and provision for loan losses.
  • The company recognized a total impairment charge of $10.2M relating to the non-renewal of the H&R Block (NYSE:HRB) relationship.
  • MetaBank processed approx.2.4M refund transfers in 2017 through its tax payments divisions, including its Refund Advantage and EPS Financial divisions, and expects to process over 2.5M refund transfers through these divisions in 2018.
  • Press Release
  • Now read: The Nest Egg Portfolio: What About Glencore (LON:GLEN)'s Tax-Free Dividends?


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