JPMorgan Chase & Co. is helping law enforcement officials collect guns — with prepaid debit cards.
The New York banking company said Wednesday that it had supplied the cards to law enforcement officials in Brooklyn and Chicago to use in "no questions asked" gun-buyback programs last month.
The programs came after a one-day event in Buffalo last year, during which officials distributed more than $42,000 worth of prepaid debit cards in exchange for more than 800 guns. JPMorgan Chase said Wednesday that the cards remain active for four months.
Last month, Chicago police offered $100 prepaid cards from JPMorgan Chase to people who turned in real firearms. Those turning in BB guns, air rifles, and replica guns received a $10 card.
The program was sponsored by the Chicago Police Department and the city's Chicago Alternative Policing Strategy program. JPMorgan Chase said the city collected more than 6,800 real and toy guns.
But in Brooklyn the guns — of all types — were more expensive. Last month, the New York Police Department and the Brooklyn district attorney's office sponsored a gun-buyback program that traded a $200 prepaid debit card for firearms and a $20 card for BB guns and air rifles.
There was a three-card limit, but no gun limit, per person, according to the Brooklyn district attorney's office; all weapons had to be functional. JPMorgan Chase said Brooklyn collected almost 700 weapons, including revolvers, pistols, rifles, shotguns, and weapons like Uzi machine pistols and AK-47 assault rifles. They will be melted down and reshaped into dry-cleaner hangers.