Regulation

CHICAGO—Last week, the PCI Security Standards Council pushed advanced encryption as a way to protect consumers’ card data. But one point-of-sale vendor executive contends authentication at every step of the payments process would work better to combat fraud.

A "don't waste a good financial crisis" moment has arrived. The G-20's Financial Stability Board is set to convene a global workshop on how to create and administer a global identification standard for businesses and their ownership structures involved in the financial supply chain.

While bankers complain about what's already on the books, regulators are moving on to write new "macro-prudential" rules designed to curb systemic risk.

The Treasury Department's Office of Inspector General blames the OTS in nearly of all its recent failed thrift reviews. The OCC, which inherited OTS-regulated thrifts in July, said it will make sure mistakes cited in the reports are not repeated.

Should credit bureaus wipe all blemishes from a consumer's file after three years? Will the Durbin debit rule drive consumers to use cash and checks, or credit cards? Don't expect firm answers from these academics, just intriguing questions.

Premier Bank & Trust in North Canton, Ohio, said that that Office of the Comptroller of the Currency has lifted a consent order after the bank recapitalized and addressed concerns over certain assets.

Amid criticism over its planned acquisition of the U.S. online banking unit of ING Group NV, Capital One Financial Corp. has agreed to add 500 jobs in Delaware by December 2013.

The prepaid card marketer Green Dot said Monday that it had joined the Payment Card Industry Security Standards Council to participate in the standards-setting process.

Citigroup Inc.'s Vikram Pandit said Friday it may be time for the U.S. to follow other nation's lead and start approaching consumer lending as a corporate finance issue.

Fannie Mae overlooked chances to catch law firms illegally signing foreclosure documents and its government overseer did not take the correct steps to ensure Fannie was doing its job, a new report by a federal watchdog states.