Kevin Collison reports on MasterCard's move of its backup processing center from New York to Kansas City.

Artie Ahrens, senior vice president of computer and network services for MasterCard, said the facility will serve as a backup for the company's main processing center in St. Louis. "What we've always been concerned about was the distance from St. Louis to the Long Island backup site," Ahrens said. "The Sept. 11 event showed us if we had to get there, it would have been difficult." MasterCard officials decided they wanted to build a new backup center within a four- to six-hour drive of St. Louis.

Washington Post: Credit card firms face tighter rules

Albert Crenshaw reports on tighter standards issued by Federal banking regulators on Wednesday including new guidelines on minimum payments.

"We saw slippage in banking practice," and the new standards are meant to "kind of pull it back into more the middle of the road," said Barbara Grunkemeyer, acting deputy comptroller of the currency for credit risk.

The press release and guidelines document are available on the Federal Reserve web site.