July 29, 2019 / 10:12 PM / 4 months ago

Bank of America ends joint venture with Fiserv's First Data

July 29 (Reuters) - Bank of America Corp said on Monday it would end its joint venture with First Data Corp next June, hours after Fiserv Inc completed its acquisition of the payment processor.

The bank said it expects to incur a non-cash, pretax impairment charge of about $1.7 billion to $2.1 billion in the third quarter of 2019 due to the termination of the partnership started in 2009 to offer electronic payment services to merchants. (Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below