Guidance on Payment Processor Relationships

Citation
FDIC, Guidance on Payment Processor Relationships (FIL 127-2008) (Nov. 7, 2008) (http://ithandbook.ffiec.gov/media/28087/fdi-fil1272008.pdf full-text]).

Overview
This guidance describes potential risks associated with relationships with entities that process payments for telemarketers, online merchants and other clients. These types of relationships pose a higher risk and require additional due diligence and close monitoring. This guidance outlines risk management principles for this type of higher-risk activity.