MasterCard Inc. shares fell heavily along with the broader financial sector after the credit-card network reported disappointing quarterly earnings and said the U.S. consumer remains under pressure.

(Updated with details about the role state regulators played in the investigation, info on settlement and a comment from the state’s attorney general) State Street Corp. STT on Thursday agreed to pay more than 0 million to settle civil charges by the U.S. Securities and Exchange Commission alleging the bank misled investors about its exposure to subprime mortgages.

In an attempt to clarify and buttress Paul Volcker’s vague reform plan, here are some specific suggestions to consider.