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.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Peter Strozniak

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.