CARMEL, Ind. - Conseco Inc. said Wednesday that its Conseco Finance Corp. subsidiary sold substantially all of its Visa and Mastercard portfolio to Wells Fargo Financial Bank, the credit card subsidiary of Norwest Financial, part of Wells Fargo & Co.

The size of the portfolio sold was approximately $400 million. Conseco said the sale of the noncore business would provide additional liquidity to Conseco Finance and was not expected to result in a material gain or loss.

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