Durbin Amendment Results in Big Drop for Visa, MasterCard Shares

Visa Inc. (Public, NYSE:V) Ended the day down 9.88% on unusual volume of 47,876,723 shares high above its average of 6,384,047 shares. 





MasterCard Incorporated (Public, NYSE:MA) Closed the day down 8.55% on unusual volume of 11,475,245 almost 10 times its average.



Visa, Inc. and MasterCard Incorporated shares fell after the U.S. Senate voted to include amendments into the financial reform bill before Congress that could curb debit card fees. The amendments would give the Federal Reserve oversight of interchange fees and allow merchants to negotiate minimum purchase amounts for card use.