Fiserv responded to a CFPB order to provide anonymized data pertaining to overdraft programs by assuring credit union clients it would protect privacy.
However, the core processor also warned of possible price increases resulting from the cost to comply.
"We are informing you of this matter to maintain the trust and transparency that is the foundation of our relationship, and to reassure you about the nature of the order itself and the data it compels us to provide about the settings you have selected in your Fiserv-hosted account processing system," Mark Sievewright, president, and Santo Cannone, chief product officer, both with Fiserv's Credit Union Solutions division, wrote in an emails statement to clients obtained by CU Times.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
