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Fidelity National Information Services, Inc. Message Board

  • bankbored bankbored Mar 25, 2012 5:36 PM Flag

    FDIC Notice

    From what I understand, the FDIC has recently issued a scathing examination report that had to be sent to all of FIS's bank clients. It is very rare for the FDIC to do this and shows the severity of IT security problems at FIS and management's inability to address. The lack of IT controls led to multi-million dollar frauds. The report was dated mid-March and referred to an examination (I believe) back to the Fall of 2011. In the meantime, the Chairman of the "Bored" has been dumping this stock just prior to the release of this letter. The SEC should investigate this. This will impact FIS revenue for those institutions in the process of selecting a new vendor or existing clients re-negotiating contracts.

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