Chase Education Finance Completes Acquisition of Collegiate Funding Services
CHICAGO, March 1, 2006 - JPMorgan Chase Bank, N.A. (NYSE: JPM) today has completed the acquisition of Collegiate Funding Services, Inc. (NASDAQ: CFSI), creating a comprehensive education finance business.
Chase Education Finance now has the sales, marketing, origination and servicing capabilities to be a major provider of every type of student loan as it works with schools and directly with students and their parents to achieve their educational goals.
Chase, the U.S. consumer and commercial banking brand of JPMorgan Chase & Co., has issued approximately 110 million credit cards and serves consumers and small businesses through more than 2,600 bank branches, 7,300 ATMs and 280 mortgage offices as well as through relationships with over 15,600 auto dealerships and 2,500 schools and universities. JPMorgan Chase is a leading global financial services firm with assets of $1.2 trillion and operations in more than 50 countries. Information about the firm is available at www.jpmorganchase.com.
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