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. Hospitals, doctors in Pa. received $32M in 5 months from drug, medical device companies
  2. EPA says greenhouse gas releases from wells, pipelines decline
  3. Google Pittsburgh instrumental in fight against hackers, co-directors say
  4. LNG exports get federal approval from Dominion’s Cove Point terminal
  5. Retirement planning is about more than just money
  6. Western Pa. unemployment rate holds steady in August
  7. Education spending helps to widen wealth gap
  8. Cranberry-based Prodigo Solutions: Hospitals can reduce high supply costs
  9. Trib 30 index of Pittsburgh-area stocks falls in September
  10. Shareholders cheer eBay’s decision to spin off PayPal
  11. ‘Tug of war’ takes effect on stocks as market logs 3rd monthly drop for 2014
Subscribe today! Click here for our subscription offers.