Vertrue Wins Bid To Maintain Credit Card Processing Deals

Law360, New York (July 31, 2012, 8:33 PM EDT) -- A New York bankruptcy judge on Monday halted a JPMorgan Chase Bank NA subsidiary from canceling credit card processing agreements with the bankrupt Vertrue LLC and its affiliates, preserving a business relationship that is responsible for facilitating about 95 percent of the direct marketer’s credit card transactions.

In a final judgment on the adversary proceeding, New York bankruptcy Judge Martin Glenn enjoined Chase-owned Paymentech LLC from terminating contracts that carry out credit card purchases of Vertrue products and services by its more than 4 million members....
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