Feb 14, 2014 ... Current Issue ... Banks make money distributing government benefits if the
economy is bad, ... In addition, J.P. Morgan EFS collects penalties and fees from
benefit ... to replace a lost EBT card, $0.40 for each balance inquiry, $0.50 each
... and preventing fraud will accomplish much of the hoped-for savings.
Feb 9, 2011 ... JPMorgan's segment that makes food stamp debit cards made $5.47 billion in net
revenue in 2010. ... While the money to pay for the stamps comes from the
government, ... told Bloomberg, “They act and feel very much like a debit card. ...
Instead of profiting when we all do well, they profit off of our misery.
Oct 1, 2012 ... And which company administers nearly half of all states' EBT programs? ... But as
with so many other government programs in Washington, both WIC ... what we do
know: 18 of the 24 states JP Morgan handles have been contracted to ... that EBT
cards were used to withdraw millions of dollars from ATM ...