Jack Henry & Associates is four months into an enforcement order from federal regulators regarding its disaster recovery and business continuity planning processes.
The Monett, Mo.-based company entered into a formal agreement with the OCC, FDIC and the Federal Reserve to resolve issues around the recovery of operations at a bank item processing facility in Lyndhurst, N.J., that was damaged by Hurricane Sandy in October 2012.
The storm caused $13.7 million in expenses at the New Jersey site, JHA said in a financial performance report last February. The company's top executive said last week that all issues are being addressed and resolved.
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