The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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From: bustersmith	6/30/2011 5:51:20 AM
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Visa(V), MasterCard(MA) Surge as Fed Lifts Caps. Visa Inc. (V) and MasterCard Inc. (MA), the world’s biggest consumer-payment networks, surged more than 10 percent after the Federal Reserve relaxed restrictions on debit- card transaction fees. Visa advanced $11.29, or 15 percent, to $86.57 at 4 p.m. in New York Stock Exchange composite trading, the most since March 2008. MasterCard rose 11 percent to $309.70, the biggest gain since February 2009. The Fed voted today to cap debit-card swipe fees, also called interchange, at 21 cents a transaction, lifting the limit from an earlier proposal of 12 cents. The caps are mandated by the Dodd-Frank Act. San Francisco-based Visa and MasterCard, based in Purchase, New York, set interchange fees that are paid by merchants and pass the money to card issuers including Bank of America Corp. (BAC) and Wells Fargo & Co. (WFC). youtube.com

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