American Banker – 6/24/13: The Federal Trade Commission has started going after credit card payment processors, arguing they should bear financial responsibility for the unlawful acts of dishonest merchants, merely because the processors provide the ability to accept credit card payments through Visa, MasterCard and other card networks. While no one would argue in defense of bad merchants, legitimate credit card processors are rightfully concerned about what this FTC crackdown could do to an industry that has operated under well-established principles of risk management for the past 40 years.
Click here to read more: http://www.americanbanker.com/bankthink/FTC-crackdown-punishes-processors-for-merchants-misdeeds-1060109-1.html?zkPrintable=1&nopagination=1

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Source: Paymentspulse