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BREAKING NEWS

JPMorgan considers sale of $1 billion AARP credit-card portfolio - Bloomberg

JPMorgan considers sale of $1 billion AARP credit-card portfolio - Bloomberg
FILE PHOTO: A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in Manhattan, New York, U.S., November 13, 2017. REUTERS/Amr Alfiky -
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AMR ALFIKY(Reuters)
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(Reuters) – JPMorgan Chase & Co <JPM.N> is looking to sell the credit-card portfolio it built through a partnership with the nonprofit AARP, Bloomberg reported on Tuesday, citing people familiar with the matter.

The sale would include about $1 billion in credit-card receivables, according to the report. (https://bloom.bg/2HuRMwn)

Alliance Data Systems Corp <ADS.N> is among those interested in the portfolio, Bloomberg reported.

JPMorgan, Alliance Data and AARP were not immediately available for comment.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Anil D’Silva)

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