Visa and Mastercard Spike Following Federal Judge Ruling

Shares of Visa

and Mastercard

are spiking higher following a ruling by a Federal Judge regarding swipe fees. The 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.