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V, MA, PYPL: Payment Stocks Slip after U.S. Threatens Action over Political Bias
Visa V -0.38% ▼ and Mastercard’s MA -0.15% ▼ shares slipped below the flat line on Thursday afternoon after the U.S. trade watchdog, in a letter, threatened to open investigations and pursue enforcement actions against the card services giants if they discriminate against American banking consumers on the grounds of their political or religious views.
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The U.S. Federal Trade Commission also sent a similar letter to payment services heavyweight PayPal PYPL +0.67% ▲ and its private rival Stripe. The former’s shares also fell on the news but were still up nearly 1% at the time of writing.
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