We recently published 13 Stocks Jim Cramer Commented On. Visa Inc. (NYSE:V) is one of the stocks Jim Cramer commanded on.
Visa Inc. (NYSE:V) is a payment processing firm. The shares are down by 2.5% over the past year and by 5.9% year-to-date. A key theme in the card market these days has been President Trump’s proposal to cap credit card interest rates at 10%. On this front, Cramer initially remarked that Visa Inc. (NYSE:V) was a processing company and not a credit card company. More recently, JPMorgan CEO Jamie Dimon warned that the move could end up removing backup credit for a large number of Americans. Dimon added that payment processors such as Visa Inc. (NYSE:V) could face greater regulatory risks, particularly since legislators head into midterm elections later this year. Cramer appeared to agree with Dimon, as he commented that Visa Inc. (NYSE:V) and others need to prepare their strategies:
“They better get on the case. This is something that, everything involving credit card, also Visa, Mastercard. It is always going to Congress. And Congress has an affinity for the banks, because there are bankers in every single area. And one of the great areas for profit is the credit card. I think that if you listen to the real, the bankers will say, listen, some people will have to pay more. And it’s very clear, if you ever go and look at their website to be able to buy things, it’s clear that [inaudible] is in the house.
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Disclosure: None. This article is originally published at Insider Monkey.
