Self-Help Credit Union has filed a lawsuit against Fiserv, alleging that the payment processor misled clients regarding its security protocols.
Filed on 4 December 2025 in a federal court in North Carolina, the complaint claims that Fiserv represented that it was utilising two-factor authentication. However, Self-Help Credit Union says that the company was not, in fact, using these security measures.
According to Charles Nerko, an attorney representing the North Carolina-based credit union in the lawsuit, a gap existed between what Fiserv represented and billed for, and what the company actually implemented as part of its operations.
Fiserv’s response and additional claims
Self-Help Credit Union’s claims have been disputed by Fiserv, with a company spokesperson saying in an emailed statement that Fiserv disagrees with the accusations and will defend itself in the lawsuit.
The complaint also alleges that even if Fiserv had an agreement with the credit union in which it committed itself to using high levels of security, Fiserv relied mostly on email passcodes to access systems that stored the financial institution’s sensitive data.
As part of this lawsuit, Self-Help Credit Union is looking for restitution for unspecified fees that it mentions it paid for scaled security.
A line of lawsuits against Fiserv
The lawsuit filed by Self-Help Credit comes as the latest case against Fiserv in recent months. The company faced several shareholder lawsuits filed since June 2025, with them reporting failures to make accurate disclosures about its performance and operations. Additionally, shareholders claimed that Fiserv deceived them about how it moved merchants to Clover, its SME-focused point-of-sale system. However, similar to the current case, Fiserv denied those allegations.
On 1 December 2025, at the UBS Global Technology and AI conference in Arizona, Mike Lyons, CEO of Fiserv, turned down the claims that the company had secretly transferred clients to Clover in a question-and-answer session. Citing him, he said that as it relates to non-Clover, the company is not forcing individuals to move away from non-Clover to Clover.
