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Thursday, March 31, 2011

Visa (V), Mastercard (MA) Jump on Debit Card Fee Delay Expectations

Shares of Visa (NYSE:V) and Mastercard (NYSE:MA) have received a boost on expectations the proposed rules which would limit the amount banks can charge for debit-card swipe fees will be delayed.

Federal Reserve Chairman Ben Bernanke recently stated in a letter to Congress that it's very improbable that in the next Federal Reserve meeting they'll be able to meet the deadline of April 21 for the final rules concerning the fees to be put in place.

Growing opposition over limiting the fees is slowing down the process and looking increasingly questionable as to whether they'll become part of the way banks will have to do business.

Visa closed Wednesday at $74.23, gaining $2.03, or 2.81 percent. Mastercard closed at $253.66, up $1.95, or 0.77 percent.

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