Visa USA Names CU Exec To ItsBoard

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SAN FRANCISCO - (05/31/06) – Visa USA, the largest paymentsystems in the world, announced Tuesday it has appointed RobertHackney, president of Card Services for CUs, to its board ofdirectors, which is nominally dominated by big banks. Theappointment of Hackney, the first credit union representative tothe board of either of the card giants, Visa or MasterCard, is partof a reform of the Visa board to include more outside directors.CSCU provides card processing for more than 3,500 credit unions.Hackney, 54, will also serve on the Visa board’s audit andrisk committee. Several bank giants also have representatives onthe Visa board, including JP Morgan Chase, U.S. Bancorp, WashingtonMutual, National City Corp., Wachovia, Wells Fargo and SunTrust.Visa added four independent directors last month in an effort tobroaden the panel.

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