Fed Takes Over Processing Banks

Yesterday the FDIC took over 28 different banks in Nevada who were in financial troubles. They have transferred all of the accounts to Mutual of Omaha bank out of Nebraska and it is said the transfer was smooth and no money was lost. This is of interest to us because some of these banks provided credit card processing for adult processors like Net Billing. So far the word is everything is business as normal, but I’ll keep you posted.

Here is the article

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