OCC updates Payment Systems booklet

The OCC has issued a revised “Payment Systems” booklet of the Comptroller’s Handbook. The booklet:

• provides examiners with information regarding payment systems, types of payments, risks associated with payment systems, and associated risk management practices
• discusses requirements of 12 CFR 7.1026 regarding payment systems memberships
• includes expanded examination procedures for examiners to use when assessing payment products and services
• includes supplemental procedures for deeper review of certain payment activities