JPMorgan is acquiring a major credit card rewards business in a bet that travel will rebound next year

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JPMorgan had partnered with cxLoyalty for its popular credit-card rewards program until 2018, when the bank switched to using Expedia

Key Points

JPMorgan is taking about half of the company's 3,100 employees in the transaction and will create a new business within its retail division reporting to Marianne Lake, head of the bank's consumer lending business, the person said. The bank agreed Monday to acquire the technology platforms, travel agency, gift card and points businesses of cxLoyalty Group, a privately-held Stamford, Connecticut-based company, according to a person with direct knowledge of the deal.

 

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OneMileataTime

Who cares what JPM says or does. They are money grubbing slobs who care about nothing other than lining their pockets with YOUR money. Their analysts also have less brain power than my cat, and I've already apologized to my cat for the comparison. JPM remains obsolete.

LONGCONVEXITY Get long EXPE folks

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