real-time news and commentary for investors
Wednesday, Jul 31
Judge swipes MasterCard and Visa
- Shares of Visa (V -0.7%) and MasterCard (MA +2.3%) fall lower after a U.S. judge rules the Federal Reserve doesn't have the authority to set a cap on debit-card transaction fees.
- "The Board has clearly disregarded Congress’s statutory intent by inappropriately inflating all debit card transaction fees," reads Judge Richard Leon's ruling.