Senators Want Answers

      From Government Executive:

… In a letter to [current Fiserv CEO Mike] Lyons, Sens. Ron Wyden, D-Ore., and Elizabeth Warren, D-Mass., the top Democrats on the Senate Finance and Banking committees, respectively, demanded information about the circumstances that led to Fiserv’s issuance of overly rosy revenue projections and the subsequent decision to reevaluate those goals.

“At a minimum, Mr. Bisignano appears to have failed to manage Fiserv effectively, and may have misled investors and the public about the company’s financial status, raising concerns about his ability to serve as a key Social Security and IRS official in the Trump administration,” they wrote. “Because of Mr. Bisignano’s mismanagement, many Fiserv investors, including retirees and members of the public, lost money—a fate Mr. Bisignano avoided. Bisignano’s required divestment of company stock helped him avoid about 300 million in losses cause by the stock’s price decline by over 50%.” …