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.
Once again, credit card issuers across the country have begun to assess the impact of a significant card data security breach at a major card processor.
The 11,000 members of the True North Federal Credit Union, headquartered in Juneau, Alaska, have responded strongly to a targeted offer centered on the credit union's Platinum Visa card.
The 11,000 members of the True North FCU in Alaska responded strongly to a targeted offer from their credit union's Platinum Visa card.
First Data's monthly analysis of card transaction data suggests consumers used their cards more in December 2011 than they did in December 2010, but that they spent only the same or less money.
New program will reward prepaid loyalty.
Even though the weekend after the Thanksgiving holiday last year had pretty strong sales volume, card processor First Data reported that the same weekend this year posted even stronger sales gains.
First Data Corp. says consumers spent more on their credit and debit cards in September 2011 than they did in the same month last year but the firm credited inflated prices for the increase rather than an increase in purchases.
When considering how to save money in the back office, some say too many credit unions retreat from looking carefully at their credit and debit card program, often believing the portfolios are too complicated to understand or manage more efficiently.