H&R Block Drops Most in Two Years on Delay in Bank Sale

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H&R Block Inc., the tax preparer seeking to exit Federal Reserve oversight, sustained its biggest decline in more than two years after the sale of its banking unit to BofI Federal Bank was delayed again.

Shares of the company, which gained 9 percent this year through Oct. 3, fell 6.4 percent to $29.64 at 11:48 a.m., the biggest decline since April 2012.