Mastercard shares dropped approximately 5.2% in midday trading after President Trump publicly reinforced his support for the bipartisan Credit Card Competition Act, which aims to limit lucrative interchange fees.
- Visa shares fell similarly by 4.8%, marking the worst daily performance for both companies since June 18, 2025.
- The legislation targets interchange fees (or "swipe fees"), which represent a significant revenue stream for payment processors and banking partners.
- This selloff follows a previous decline triggered by Trump's proposal to cap credit card interest rates at 10% for one year.