J.P. Morgan to Exit Tax Lien Business

J.P. Morgan JPM announced today that the firm would begin exiting its tax lien business, Plymouth Park Tax Services, LLC, which also operates under the name XSPAND. The firm will not pursue any new business in this area, effective immediately. XSPAND will continue to service existing tax liens for its third party clients and for its own portfolio. XSPAND is a subsidiary of JPMorgan Chase & Co. and was acquired by the firm along with the 2008 acquisition of Bear Stearns.