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.
Card Analysis Solutions has announced its next Credit Card Management School, scheduled for early June in Florida.
This year saw a regulation capping the interchange card issuers were able to earn on a debit card transaction come into effect for the first time in history.
More small merchants seen seeking cash instead of cards.
The Federal Reserve's most recent update of its rule implementing the Durbin amendment makes it a bit better for most CUs but leaves most of their deep concerns about the measure untouched.
An unknown number of the third largest credit union's members were put at risk of identity theft after the CU had its security breached by a program carried on an infected laptop.
Debit card rewards programs at credit unions will survive the coming downturn in debit card interchange, but they will have to change and broaden their foundations in order to remain a part of credit union programs and services.
Even though the vast majority of credit unions never abused credit card holders the way many big bank issuers did,
BancVue, the product development and marketing firm dedicated to helping CUs and community banks compete with large banks, has announced a deal with card processing giant