TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

JPMorgan may sell prepaid card division

By The Associated Press
Friday, Jan. 10, 2014, 12:01 a.m.
 

JPMorgan Chase & Co. said it is considering the sale of its prepaid card business.

The company said on Thursday it is no longer accepting new prepaid card business but will continue to support existing cardholders.

Chase bank customers are not affected by the decision.

JPMorgan said last month that the personal information of about 465,000 users of its UCard prepaid cash card may have been hacked. The UCard is used for programs such as food stamps, unemployment benefits and tax refunds. Corporations use the card to pay workers who don't have checking accounts.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Range Resources to pay $4.15M fine, close old gas drilling impoundments
  2. Post-IPO, Alibaba plans global expansion
  3. Five things you should know about Alibaba’s leadership
  4. 5 Facebook settings to change now
  5. Brighter economy drives up holiday hiring plans
  6. Home construction plunges more than 14% in August
  7. Net worth in U.S. reaches record high
  8. Chevron gets first OK from Pa. sustainable drilling group
  9. Bayer to spin off plastics unit as separate company; employment to remain stable
  10. Positive economic news pushes Dow, S&P 500 to record levels
  11. Bayer plastics unit may be gone
Subscribe today! Click here for our subscription offers.