HARRISBURG, Pa. – The $2.3 billion Pennsylvania State Employees Credit Union has filed to appeal a recent court decision, which dismissed its case against B.J.'s Wholesale Club and its merchant processor, Fifth Third.
The credit union is trying to recoup the losses it suffered closing accounts and reissuing cards after B.J.'s and Fifth Third violated Visa regulations by holding onto data from card transactions that the retailer was not supposed to have. The data was compromised when a hacker managed to steal it and the CU's first attempt to recover some of its costs was thrown out when the court ruled that the CU didn't have standing to bring the complaint.
The briefs of the appeal will be filed in coming weeks, according to PSECU CEO Greg Smith.
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"While it may be nave for me to feel this way, I look to our court system to correct an injustice. PSECU honored its word by complying with the Visa regulations and contracts," Smith said. "In an effort to stop fraudulent charges and spare our members the inconvenience of fraudulent card use, we canceled the 14,000 cards involved and reissued those cards. We just want compensation for an expense that we didn't create or cause."
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