SAN DIEGO - Bank Plus Corp. in Los Angeles announced Wednesday that it has a definitive agreement to sell its money-losing MMG Direct Inc. subprime credit card portfolio to an unnamed international financial services company.

The buyer of the $78.4 million portfolio is also to acquire a credit card processing center in Beaverton, Ore. Bank Plus, the parent of Fidelity Federal Bank, estimates the loss on the sale of the center and other transaction costs to total about $4 million.

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