We've noted before that big regulatory changes often have a seismic impact on the IT infrastructure at various companies. Reg NMS and Reg SHO are two great examples of this. With overhauled credit card regulation likely to become a reality, financial companies are facing the prospect of higher IT costs.

Notes Bank Technology News: "Everything from customer service technologies, billing and payment processing systems, disclosure processes, and pricing models must all be rewritten or replaced. Best guess is that most lenders will band-aid existing systems to meet the deadline--or face stiff fines--and overhaul down the road."

What type of band aids are we looking at? For permissions like functionality, some may opt for a simple text message to customers offering opt in, but even that has to be programmed. This is something all technology providers and banks need to be exploring now. 

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