"

Estimated reading time: 0 minutes, 54 seconds

Jackson Hewitt, Republic, Enter New Deal

Jackson Hewitt Tax Services and Republic Bancorp have entered a two-year agreement under which Republic will provide bank products to the tax preparation chain. The agreement followed the conclusion of arbitration between the two sides over Jackson Hewitt's termination of the contract between them in 2012.

Neither party has reported the arbitrator's findings directly. However, in its discussion of its fourth-quarter 2013 results, the Louisville, Ky.-based bank holding company report arbitration was concluded during the quarter and that no future legal expenses associated with the dispute were expected.

Both Jackson Hewitt and Liberty Tax Service in 2012 terminated their contracts with Republic after the bank was forced from the Refund Anticipation Loan business. However, Republic took action against only Jackson Hewitt and the disagreement was then submitted for arbitration.

Republic reported a $1 million increase in legal fees for the quarter ended December 31, stemming primary from the Jackson Hewitt issue. Republic says the new deal will increase annual revenue for 2014 and 2015 by about 12 percent over its 2013 net revenue of the Republic Processing Group, which handles the bank products for the tax preparation industry.

Read 6322 times
Rate this item
(0 votes)

Visit other PMG Sites:

Template Settings

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Text Color

Header

Background Color

Footer

Select menu
Google Font
Body Font-size
Body Font-family
Direction
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.