Up to 1,000 jobs are thought to be at risk over the future of the MBNA credit card operation in Carrick-on-Shannon in Co Leitrim.
Bank of America, which owns MBNA, has said it will exit the credit card business in the Republic and the UK.
The Carrick-on-Shannon credit card operation provides telephone and online support for customers in the Republic and the UK.
A Bank of America spokesman was quoted as saying it had not yet decided whether to sell or wind down the Irish operation, which in 2004 was named the best place to work in Europe.
In a statement last night, the Minister for Jobs, Enterprise and Innovation Richard Bruton said he had directed the IDA to work closely with the company to assist them in finding a buyer for the business as a going concern.
Bank of America also employs 700 people at two other sites in Dublin, but the announcement does not affect them.
Bank of America's shares have fallen by 40% this year. It is the biggest US bank by assets, many of which it is now trying to sell in an effort to stem the drop in the company's share price related to its purchase of mortgage lender Countrywide in 2008. It also bought MBNA and the investment bank Merril Lynch in 2006.
It has already sold its Canadian and Spanish card businesses, but no buyer for the Irish and UK operation has been mentioned. While it is hoped they too will be sold, analysts do not expect a rush of offers for the portfolio here, given the UK's exposure to the troubled Irish economy, with many UK banks looking to shrink rather than grow their lending books.
The bank says there is no timeframe for selling the business, which also provides credit card services for the likes of Ryanair and EBS.
