LAS VEGAS – Pledging once again to keep card coverage intact despite growing losses, the head of CUNA Mutual Group vowed last week to press his case against Visa and Mastercard to tighten tech standards warning anew of possible legislation in Congress to force the issue.
In remarks at CUNA Mutual's annual Discovery Conference, Jeff Post, its president/CEO, revealed his joining an industry coalition visiting lawmakers on Capitol Hill last week regarding what he said was a two-pronged approach of creating new awareness of the CU card problem and to pressure card firms to "come voluntarily to the table."
As he has before, Post said solving card fraud remains "our problem and our job to find a solution" since among financial institutions, CU cards are the instruments of choice for criminals at a time the card firms have failed the CU industry badly in controlling the problem.
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