Dec 18 - Mobile payments have the potential to significantly change how consumers pay for goods and services. "Mobile Payments: An Evolving Landscape," which appears in the Winter 2012 issue of Supervisory Insights, describes the range of mobile payments options, identifies the risks associated with their use, and looks at how banks that offer mobile payments services can ensure compliance with existing laws and regulations.
"Banks may work with nonbank third parties to offer mobile payments services to their customers. However, these third-party providers may not be knowledgeable about the regulatory environment in which banks operate," said Sandra L. Thompson, director, Division of Risk Management Supervision. "Therefore, banks' oversight of third-party relationships will become increasingly important as the mobile payments area evolves."
Also in this issue, "High-Yield Checking Accounts: Know the Rules" reviews the typical features of these accounts and the issues that FDIC examiners have sometimes observed with the disclosures and marketing materials associated with these accounts. This article also highlights how examiners review banks' offerings of high-yield checking accounts for compliance with laws and regulations.
Supervisory Insights provides a forum for discussing how bank regulation and policy are put into practice in the field, sharing best practices, and communicating about the emerging issues that bank supervisors face. The journal is available on the FDIC's website at www.fdic.gov/regulations/examinations/supervisory/insights/index.html. Suggestions for future topics and requests for permission to reprint articles should be e-mailed to supervisoryjournal(at)fdic.gov. Requests for print copies should be emailed to publicinfo(at)fdic.gov.