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A small credit union is making serious allegations against the financial technology giant Fiserv.

The $28 million Parks Heritage Federal Credit Union in Glen Falls, N.Y., located about 60 miles north of Albany, N.Y., accused the Fortune 500 corporation in a 26-page civil lawsuit of fraud, breach of contract and negligent misrepresentation. It also claimed Fiserv’s account processing solution is inundated with flaws, bugs and defects that compromised the integrity of and misrepresented Parks Heritage. The credit union is seeking a monetary judgement of at least $2.5 million and punitive damages, and wants out of its master agreement with the Brookfield, Wis.-based Fiserv.

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Peter Strozniak

Credit Union Times

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