Maybe the Interchange Bill isn't going to affect MasterCard and Visa as much as some analysts originally thought. Yesterday, both saw their stock rise on heavy volume.
Bot V and MC stock had not performed well since the highly touted 7-Eleven petition drive. The impact and the hoopla surrounding the delivery of the petitions to Congress garnered a lot of media attention.
First Visa shot back that it's own study showed that consumers, by a 2-1 margin feel that Interchange Fees are a simple cost of doing business.
First Visa shot back that it's own study showed that consumers, by a 2-1 margin feel that Interchange Fees are a simple cost of doing business.
"Shares of MasterCard Inc. (MA) and Visa Inc. (V) rose on heavy volume Wednesday despite the broader market's decline, a move analysts attributed to several factors, including a bit more optimism about possible interchange-fee legislation.
Late last month, the stocks were hurt after Sen. Chris Dodd, D-Conn., said he was working on a bill to modify interchange fees, which credit-card issuers collect when transactions are completed on the cards they've issued.As Rep. Barney Frank, D-Mass., and the House Finance Committee get ready for their first hearing on interchange legislation Thursday, Susquehanna analyst James Friedman suggested there may have been some change of stance by a representative or other turmoil among the proponents of the fee change.Susquehanna or its affiliates beneficially own 1% or more of MasterCard".
Continue Reading at WSJ.com
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