CINCINNATI & COLUMBUS, Ga.--(BUSINESS WIRE)--Fifth Third Bank and its credit card processing provider, TSYS, today
provided additional details on a credit reporting error that was shared
with Bank customers earlier this month.
The error stemmed from a TSYS coding issue during implementation of a
software change on Oct. 17, 2013. Upon notification of the error, TSYS
promptly sent fully corrected information to the credit bureaus for
21,221 impacted customers.
“We apologize to Fifth Third and its customers for the concern and
inconvenience this situation has caused. As Fifth Third’s service
provider, we take responsibility for this error, and we have worked with
Fifth Third and the credit bureaus to correct inaccurate reporting of
the bank’s customers,” said Phil Tomlinson, chairman and CEO, TSYS.
“To our customers, we say ‘thank you’ for your patience and your
loyalty. The safety and accuracy of your personal information is our top
priority, and I want to reassure you that there is, and will be, no
history of this error reflected in your credit report,” said Greg
Carmichael, president and COO, Fifth Third Bank.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $130 billion in
assets and operates 17 affiliates with 1,320 full-service Banking
Centers, including 104 Bank Mart® locations, most open seven days a
week, inside select grocery stores and 2,586 ATMs in Ohio, Kentucky,
Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia,
Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates
four main businesses: Commercial Banking, Branch Banking, Consumer
Lending, and Investment Advisors. Fifth Third also has a 25% interest in
Vantiv Holding, LLC. Fifth Third is among the largest money managers in
the Midwest and, as of December 31, 2013, had $302 billion in assets
under care, of which it managed $27 billion for individuals,
corporations and not-for-profit organizations. Investor information and
press releases can be viewed at www.53.com.
Fifth Third’s common stock is traded on the NASDAQ® Global Select Market
under the symbol “FITB.” Fifth Third Bank was established in 1858.
Member FDIC.
About TSYS
At TSYS®, (NYSE: TSS), we believe payments should revolve
around people — not the other way around. We call this belief
"People-Centered Payments®." By putting people at the
center of every decision we make, TSYS supports financial institutions,
businesses and governments in more than 80 countries. Through NetSpend®,
a TSYS Company, we empower consumers with the convenience, security, and
freedom to be self-banked. TSYS offers issuer services and merchant
payment acceptance for credit, debit, prepaid, healthcare and business
solutions.
TSYS’ headquarters are located in Columbus, Georgia, with local offices
spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of
the Civic 50 and has been named one of the 2013 World's Most Ethical
Companies by Ethisphere magazine. TSYS routinely posts all important
information on its website. For more, please visit us at www.tsys.com.
Fifth Third Bank
Larry Magnesen, 513-534-8055
larry.magnesen@53.com
or
TSYS
Cyle Mims, 706-644-3110
cylemims@tsys.com