H&R Block is exploring strategic alternatives for its banking unit to avoid the increased capital requirements of operating a savings and loan company.

The tax prep giant has hired Goldman Sachs to advise the Kansas City-based company on strategic alternatives for H&R Block Bank. However, the company's existing financial products and related services would remain in fiscal 2013, and financial products and related services would remain key part of company's strategy. Block expects no material impact on fiscal 2013 earnings, strategy or execution

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