On January 31, 2012 the Federal Deposit Insurance Corporation (FDIC) issued Financial Institution Letter (FIL) 3-2012 FIL-3-2012, which revised the guidance for Payment Processor Relationships (previously issued FIL-127-2008). As described in the letter, the FDIC has seen an increase in financial institutions relationships with payment processors, which can pose an increased risk to financial institutions.
Read more here: Financial Services: Payment Processors
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