Philip Tomlinson, CEO, Chair, TSYS, Columbus, GA (Courtesy of TSYS, unauthorized usage not permitted)
TSYS CEO and Chairman of the Board Phil Tomlinson told Columbus Rotarians today that while the company has a lost a big customer, Washington Mutual, and could lose another one, Bank of America merchant services, things, over all, are going well. He did say that TSYS customers are mainly banks and banks are having big problems. But, he made it clear that TSYS was not in the loan making business.
He admitted that there have been significant credit card abuses by some banks, but thinks the new regulations being put in place by the Obama administration will cause problems, mainly an increase in costs.
He also said credit card companies are an easy target for politicians.
He told me that TSYS has not laid off any employees – he calls them “team members” - and that the company is working to see that does not happen, and has high hopes that it will not.
Tags: economy, finance, banking, Phil Tomlinson, TSYS, credit cards, credit card reform
