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BROOKFIELD, Wis. – Fiserv was the first company in Wisconsin and the fourth in the country to file its sworn statements to the SEC certifying the accuracy of its financial reports. On June 27 the SEC issued an order requiring sworn statements from the CEO and CFO. The deadline for most large companies is August 14. “We filed our 10Q. It did not make sense not to certify. We’ve gotten a lot more positive notoriety than I ever thought we would. The country is hungry for CEOs and CFOs to stand behind their numbers,” said Fiserv President and CEO Les Muma. Fiserv’s filing was received by the SEC on July 24. Fiserv is the parent company for six credit union data processing companies – USERS, XP Systems, CUSA Technologies, AFTECH, SUMMIT, and Galaxy. Muma said that he thinks the SEC’s move may be somewhat of an overreaction given that the majority of companies are reporting accurate numbers, but said it is necessary in today’s climate. “If a CEO and CFO are not willing to certify their financials they shouldn’t be the CEO and CFO. If getting out early helps to assure this nervous market, I’m all for it,” said Muma. Muma said Fiserv’s practice, even before the SEC’s ruling, was to have the CFOs of its various business groups sign off on their respective financials. The four groups are Credit Union Industry Products, Financial Institutions, Securities and Trust Services, and Insurance. Another major tech player in the credit union arena, EDS, also filed relatively early, with its statement received by the SEC on July 26.

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