The Fed's Rule Call On Swipe Fees Sends Visa And MasterCard Way Higher

The names of big credit card firms have spiked on the news that the Fed is proposing swipe fees higher than those originally expected, at $0.21 per swipe, according to Bloomberg.

This is a huge win for the credit card companies. The original cap was set at $0.12.

As a result, Visa shares have spiked, and are now up nearly over 10%. MasterCard too has taken a big jump, up 9.23%. Shares were temporary halted, but it appears they have now reopened.

Here’s what that Visa spike looked like:

Chart

More to follow…

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