Jim Cramer Discusses Visa (V) & Trump Credit Card Cap

Visa Inc. (NYSE:V) is simply a outgo processing firm. The shares are down by 2.5% implicit the past twelvemonth and by 5.9% year-to-date. A cardinal taxable successful the paper marketplace these days has been President Trump’s connection to headdress recognition paper involvement rates astatine 10%. On this front, Cramer initially remarked that Visa Inc. (NYSE:V) was a processing institution and not a recognition paper company. More recently, JPMorgan CEO Jamie Dimon warned that the determination could extremity up removing backup recognition for a ample fig of Americans. Dimon added that outgo processors specified arsenic Visa Inc. (NYSE:V) could look greater regulatory risks, peculiarly since legislators caput into midterm elections aboriginal this year. Cramer appeared to hold with Dimon, arsenic helium commented that Visa Inc. (NYSE:V) and others request to hole their strategies:

“They amended get connected the case. This is thing that, everything involving recognition card, besides Visa, Mastercard. It is ever going to Congress. And Congress has an affinity for the banks, due to the fact that determination are bankers successful each azygous area. And 1 of the large areas for nett is the recognition card. I deliberation that if you perceive to the real, the bankers volition say, listen, immoderate radical volition person to wage more. And it’s precise clear, if you ever spell and look astatine their website to beryllium capable to bargain things, it’s wide that [inaudible] is successful the house.

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