Total System Services, Inc. (NYSE:TSS) Files An 8-K Regulation FD Disclosure
Item7.01
| Regulation FD Disclosure. |
As previously disclosed, on November 10, 2016, NetSpend
Corporation (NetSpend), a subsidiary of Total System Services,
Inc. (Registrant), became subject to a complaint filed by the
Federal Trade Commission (FTC) alleging that certain NetSpend
marketing materials were deceptive.On March 31, 2017, NetSpend
issued a press release announcing that it has agreed to settle
the matter with the FTC. Also as previously disclosed, Registrant
incurred a charge of $13 million to GAAP operating income in the
fourth quarter of 2016 in connection with settlement discussions.
The press release is attached hereto as Exhibit 99.1 and
incorporated herein by reference.The information in the press
release shall not be deemed to be filed for purposes of Section
18 of the Securities Exchange Act of 1934 or incorporated by
reference into any document filed under the Securities Act of
1933 or the Securities Exchange Act of 1934 except as shall be
expressly set forth by specific reference in such filing.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
|
Exhibit No. |
Description |
|
| 99.1 | NetSpends press release dated March 31, 2017 |
2
About Total System Services, Inc. (NYSE:TSS)
Total System Services, Inc. (TSYS) is a payment solutions provider that provides services to financial and nonfinancial institutions. The Company’s segments include North America Services, Merchant Services, NetSpend and International Services. The Company also provides processing services, acquiring solutions, related systems and integrated support services to merchant acquirers and merchants. In addition, it provides general purpose reloadable (GPR) prepaid and payroll cards, and alternative financial service solutions to the underbanked and other consumers. The Company’s Merchant Services segment provides third party processing services to merchant acquirers and Independent Sales Organizations (ISOs) mainly in the United States. The Company’s NetSpend segment provides GPR prepaid debit and payroll cards, and convenience checks. The Company’s services and solutions include Issuing Services, Acquiring Services, Prepaid Solutions and Merchant Solutions. Total System Services, Inc. (NYSE:TSS) Recent Trading Information
Total System Services, Inc. (NYSE:TSS) closed its last trading session up +0.20 at 53.46 with 1,598,315 shares trading hands.
