FDIC removes list of high-risk merchant categories from guidance and articles related to third-party payment processors. The banking regulator says the clarification was made to eliminate confusion among smaller banking institutions. Some banking experts suggest the revisions were made because of backlash to the Department of Justice’s so-called “Operation Choke Point” Some experts say the FDIC is merely reminding banks that they must stay focused on third party risks and vendor management. The FDIC did not respond to Information Security Media Group’s request for comment.”]
Source: https://www.cuinfosecurity.com/fdic-clarifies-third-party-payments-risks-a-7134