As part of the deal, banks will also be able to securely load their customers' card account information into computer chips located in the handsets.

WSJ: Card Networks Take on Plastic With Mobile Platforms

After the computer boots up, simply log into your Google account and all your apps, e-mail, calendar appointments and contacts load instantly.

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The current rulemaking orgy comes as three out of four investors can't define an "expense ratio" and two-thirds think "no-load" funds are free (in truth, they don't charge a fee to start an account, but they do take annual charges for expenses).

FORBES: OutFront