J.P. Morgan to Explore a Sale of its Corporate and Public Prepaid Card
NEW YORK -- January 9, 2014
J.P. Morgan announced today that it will explore a full range of options for
its prepaid card business, including a sale. The prepaid card business
includes all Corporate, U.S. Public Sector and Electronic Benefit Transfer
(EBT) programs, as well as Health Savings Accounts (HSA). Additionally, the
firm will no longer solicit or accept any new prepaid card business.
As the firm explores a sale, it will continue to fully support current clients
and cardholder activities. Cardholders should continue to use their cards
unless notified otherwise.
Chase customers, including cardholders of Chase debit, credit, Chase Liquid
and commercial cards, are not affected by this decision.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services firm
with assets of $2.5trillion and operations worldwide. The firm is a leader in
investment banking, financial services for consumers and small businesses,
commercial banking, financial transaction processing, asset management and
private equity. A component of the Dow Jones Industrial Average, JPMorgan
Chase & Co. serves millions of consumers in the United States and many of the
world’s most prominent corporate, institutional and government clients under
its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is
available at www.jpmorganchase.com.
J.P. Morgan Chase & Co.
Jessica Francisco, 212-270-1719
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