| Business

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

JPMorgan may sell prepaid card division

Email Newsletters

Sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

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.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Business Headlines

  1. Union leaders warn Post-Gazette newsroom of possible layoffs
  2. Covestro leader MacCleary finds stability amid change
  3. Mall stores required to open for Thanksgiving
  4. German financial giant Allianz SE slashes coal investments
  5. Coke had hand in shaping nonprofit health group, emails show
  6. Black Friday loosens its hold on the holiday season
  7. New rules proposed for high-speed traders
  8. Feds upgrade GDP’s growth
  9. Stocks shake off Middle East tensions, drop in consumer confidence
  10. Pfizer acquires Allergan in $160B deal
  11. Powder metals fabricator Atlas Pressed Metals diversifies appeal to customers