Payments systems booklet updated for OCC examiner handbook

Payments systems – including types, associated risks, and management practices – are covered in the updated version of the national bank regulator’s “Payment Systems booklet, the agency said Friday.

According to the Office of the Comptroller of the Currency (OCC), the booklet is part of the Comptroller’s Handbook, made for agency examiners to use in examination and supervision of national banks and the other institutions supervised by the OCC.

In addition to providing information about payments systems and risks, the agency said the booklet also: discusses federal regulation regarding payment systems memberships; includes expanded procedures for examiners to use when assessing payment products and services; and includes supplemental procedures for deeper review of certain payment activities.

OCC Bulletin 2021-49: Payment Systems: Revised Comptroller’s Handbook Booklet and Rescissions