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CUNA Working Hard To Get CUs More Time On TJX Deal

WASHINGTON -- CUNA has been lobbying the TJX company and its merchant processing bank, Fifth Third, trying to get credit unions impacted by TJX's record setting card breach more time to determine whether to accept the two firm's settlement offer.

By David Morrison | Updated on December 10, 2007

WASHINGTON — CUNA has been lobbying the TJX company and its merchant processing bank, Fifth Third, trying to get credit unions impacted by TJX’s record setting card breach more time to determine whether to accept the two firm’s settlement offer.

Visa USA, which did not originate the deal but said it supports it, announced last week that the two companies had put more than $40 million into a fund which would be used to compensate issuers, including credit unions, who suffered losses from the results of the card security breach.

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