Although this is no magic wand for the short-term lending industry, the FDIC did release a statement saying, "institutions correctly managing their third-party relationships are neither prohibited nor discouraged" from processing payments for legal entities."  This from an article on AmericanBanker.com on the topic of the FDIC and short term lending.

The FDIC made clear that they want banks to perform due diligence before allowing automatic third-party payment processors free access to consumer's bank accounts.  Specifically they pointed out payday lenders, debt consolidation firms and pornography businesses as needing additional scrutiny.

The statement went on to say,"those that are operating with the appropriate systems and controls will not be criticized for providing payment processing services to businesses operating in compliance with applicable law," the agency said in a letter Friday to all the institutions it supervises.

The FDIC repeated that they are stressing to banks the importance of overseeing the activities of these third parties and not automatically allowing them access to consumer accounts.