Visa Inc. , the world’s biggest payments network, fell as much as 5 percent after saying the U.S. Department of Justice may sue the company over a policy that bars merchants from charging extra to customers who pay with credit cards.
U.S. Senator Richard Durbin, who won federal limits on debit-card swipe fees, said merchants should “think hard” before signing a $6.6 billion settlement with Visa Inc., MasterCard Inc. and banks over credit-card fees.
MasterCard Inc., the second-biggest payments network, fell in New York trading after posting quarterly revenue that missed analysts’ estimates as currencies in some overseas markets slid against the U.S. dollar.
Visa Inc. and MasterCard Inc. , the world’s biggest payments networks, climbed more than 4 percent as the U.S. Congress worked toward a compromise that would protect transaction fees they charge to banks.
Marsico Capital Management was among the biggest sellers in the second quarter of Visa Inc., the world’s largest payments network, and Vanguard Group Inc. added to its holdings, as the stock posted its steepest decline in almost two years.