Is Chase the Canary in the Prepaid Coal Mine?

Chase has chosen to exit several prepaid segments, showing how difficult the business has become.

J.P. Morgan Chase & Co. has recently announced that it will end its payroll and government benefits prepaid businesses. It also recently exited the open-loop gift card business. The moves may be the beginning of a trend of banks reevaluating their prepaid strategies in light of industry changes.