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Financial Institution Letters

Retail Payment Systems Booklet
Update to FFIEC IT Examination Handbook Series
February 25, 2010

Summary: The Federal Financial Institutions Examination Council (FFIEC) has issued an updated Retail Payment Systems booklet. The booklet is part of the IT Examination Handbook series and serves as guidance for examiners, financial institutions, and service providers on identifying and controlling risks related to retail payment systems and related banking activities.

  • The FFIEC IT Examination Handbook series is a collaborative effort of the Information Technology Subcommittee of the FFIEC's Task Force on Supervision. The subcommittee promotes uniform and effective information technology-related policies and supervisory programs for financial institutions and their service providers.
  • The revised Retail Payment Systems booklet addresses changes in technology and provides guidance on The Check Clearing for the 21st Century Act of 2004, including examination procedures related to remote deposit capture.
  • The revised booklet provides expanded guidance on automated clearing house (ACH) risk and controls, and on merchant card processing.
  • The booklet also discusses several emerging payment technologies, including:
    • Decoupled debit cards
    • Stored value cards
    • Account-to-account services
    • Contactless payment devices
    • Remotely created checks
  • An electronic version of the booklet, as well as an FFIEC press release announcing the booklet, is available at http://www.ffiec.gov/press.htm.

FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
Chief Information Officer
Chief Information Security Officer
Chief Treasury Officer
Chief Compliance Officer

Related Topics:
FFIEC Information Technology Handbook
FIL 4-2009, Risk Management of Remote Deposit Capture, January 14, 2009
FIL 127-2008, Guidance on Payment Processor Relationships, November 7, 2008
FIL 44-2008, Guidance on Managing Third-Party Risk, June 6, 2008
Credit Card Activities Manual, March 2007


Donald Saxinger, Senior Examination Specialist, at dsaxinger@fdic.gov or (202) 898-6521

Printable Format:
FIL-6-2010 - PDF (PDF Help)

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Last Updated 2/25/2010 communications@fdic.gov