H&R Block pays millions to settle complaints about 'Express IRA' offer

H&R Block agreed to refund up to $19.4 million in fees to settle charges the tax preparation giant steered hundreds of thousands of customers to put money into its "Express IRA" program knowing it was virtually guaranteed to lose money, the New York Attorney General's Office said.

Low interest rates and an array of fees prevented the accounts from benefiting the investors, primarily lower and middle income families, Attorney General Andrew M. Cuomo said in a written statement.