Bank card issuer stocks drop on fee-reform fears

Bank card issuer stocks drop on fee-reform fears
Tags: Debit / Credit, Transaction Processing
May 18, 2010

Shares of bank card issuers continued to plunge Tuesday, likely due to fears of bank reform legislation that aims to cut debit card fees.

According to MarketWatch.com, shares of Visa Inc. (V 70.10, -4.61, -6.17 percent) and MasterCard Inc. (MA 199.75, -11.06, -5.27 percent) dropped the most. American Express Co. (AXP 40.19, -1.04, -2.52 percent), Capital One Financial Corp. (COF 41.65, -0.92, 2.23 percent), and Discover Financial Services (DFS 13.65, -0.58, -4.08 percent) also suffered drops in recent trading.