Wells Fargo: Instant Cash sold

First Data to Acquire Instant Cash Services(R) Business from Wells Fargo

Excerpt:

Wells Fargo Bank, N.A., a subsidiary of Wells Fargo & Company (NYSE: WFC - News), and First Data Corp. (NYSE: FDC - News) announced today they have signed a definitive agreement for First Data to acquire the Instant Cash Services® (Instant Cash) business, which includes the Instant Cash Network, from Wells Fargo. First Data will continue to operate the Instant Cash Network under the Instant Cash brand. Instant Cash Services provides debit card and ATM payment processing services for more than 500 community banks, credit unions, thrifts and non-financial institutions in 20 states. The transaction will not affect Wells Fargo's ATM banking network of 6,700 ATMs in 23 states nor will it affect the company's ranking as the nation's #2 largest debit card issuer, with 18.7 million debit card accounts.

This move slightly impacts Kathee's area.