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Visa and Mastercard Spike Following Federal Judge Ruling

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Shares of Visa (NYSE: V) and Mastercard (NYSE: MA) are spiking higher following a ruling by a Federal Judge regarding swipe fees, according to a Bloomberg story.

The report suggested a federal appeals court upheld a ruling that the Federal Reserve acted within its power by capping debit card swipe fees at about $0.21.

The ruling was a blow to retailers in a dispute with banks over transaction costs.

Mastercard is lagging behind Visa at the moment, up only 0.29 percent compared to 2.3 percent.

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