Fed's debit card fee rules threaten Visa and MasterCard profit

Visa Debit logo.
Shares of Visa and MasterCard, the world's biggest payment networks, fell more than 10% after the Federal Reserve proposed rules to cut debit card fees by 90%. If the central bank adopts the rules in their present form, the revenue of U.S. financial institutions that issue Visa and MasterCard debit cards might fall $15 billion a year. Full story here