H&R Block said its deal to sell its financial adviser unit to Ameriprise Financial  would complete a restructuring of the tax preparation company, signaling that it plans to keep its thrift — for now.

Since becoming H&R Block's chairman in November, Richard Breeden has voiced mixed feelings about the thrift. One of his biggest objections to owning the $1.3 billion-asset depository was an onerous capital requirement imposed on the parent company by the Office of Thrift Supervision. The regulator lifted those requirements in May after H&R Block disposed of the remaining pieces of the subprime lender Option One Mortgage Corp.

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