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Shares of Visa and Mastercard declined in late trading after the Federal Reserve announced its intention to revise the cap on debit card fees paid by merchants to banks. The proposal aims to lower the fees merchants pay to many banks when consumers shop with debit cards. This move could have significant implications for the debit card industry and may result in reduced revenue for Visa and Mastercard. The announcement has sparked concerns among investors and industry experts, as it could potentially impact the profitability of these payment networks.
Shares in Visa, Mastercard slide on expected Federal Reserve fee cap proposal https://t.co/uBqvTRdm6T https://t.co/RlNWNDdiA9
If Big Box retailers get their way through the Credit Card Competition Act...We’ll be paying more in fees and higher interest rates while earning fewer rewards. @joelgriffith explains 👇 https://t.co/mVzCChkevJ
Big pmt news. Fed proposing to further reduce debit card interchange below the 21bps + 5 bps. This will not hit networks. But rather non-exempt Issuers. https://t.co/agDYcmdyAn
$V $MA 🔸SHARES OF CREDIT CARD FIRMS DOWN PREMARKET AFTER REPORT FED TO PROPOSE LOWERING DEBIT-CARD SWIPE FEES 🔸VISA SHARES DOWN 1.6%, MASTERCARD SHARES DOWN 1.6%
$V $MA $AXP $DFS Fed to Propose Lowering Debit-Card Swipe Fees - WSJ https://t.co/LQ7aNERPkK
Shares of Visa and Mastercard dropped in late trading after the Fed announced it will consider revising the cap on debit-card fees merchants must pay to banks https://t.co/kWSzJBwHw4
Scoop: the fed is about to propose lowering debit card fees (w/@AAndriotis @DaveCBenoit) https://t.co/KclaiaK4Rw
The Federal Reserve is preparing a proposal that would lower the fees merchants pay to many banks when consumers shop with debit cards https://t.co/H4eMfivpPf