ST. PETERSBURG, Fla. — Three credit unions will begin issuing EMV chip enabled cards later this year as part of a pilot program with FIS.
ST. PETERSBURG, Fla. — Conference attendees told they'll be hearing from FIS brass about advisory letter from regulators and member data security.
Agency sources call "ridiculous" the idea that regulator was trying to drive credit unions away from processing with FIS.
FIS, the credit and debit card processor for more than 5,000 credit unions, has announced the hiring of a chief risk officer.
Big CUSO said it's confident card processor will address security issues but also plans to make sure.
Long, complicate processor switch process should impede exodus from FIS after regulatory letter, card consultant says.
The NCUA has asked credit unions that process their debit and credit card transactions with FIS to evaluate their relationship with the card processor in light of an information technology supervisory letter the company has received from other federal financial regulators.
CO-OP's operations were not impacted by breach and CUSO expressed confidence in FIS.
Agency cites information technology supervisory letter the company has received from the FDIC; FIS processes credit and debit transactions for 5,400 credit unions.
Federal suit charges FIS with infringing on CheckFree, CashEdge intellectual property in payments tech tools.