ST. PETERSBURG, Fla. — An undercurrent of concern about how card processor FIS was handling some of its ongoing information security problems was not enough to dissuade 321 payment executives from 131 credit unions that use the processor from meeting April 25-29 to celebrate card success and strategy.
ST. PETERSBURG, Fla. — FIS said credit unions will be expected to take on a greater role in helping guard information security and prevent breaches.
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.
Agency cites information technology supervisory letter the company has received from the FDIC; FIS processes credit and debit transactions for 5,400 credit unions.