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December 3, 2008 12:38:05 PM CST

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Visa news stories

9 Stories

Lenders Yank Credit Cards
as Economy Sours

Plastic crisis comes hot on the heels of mortgage crisis

New York Times New York Times Oct 29, 08 4:33 AM CDT
(Newser) - The flattening economy is putting the squeeze on credit card lending just when consumers can least afford it, the New York Times reports. Lenders are putting the brakes on new credit card offers and reining in lines of spending for existing holders, even those with good credit records. The flood of credit card junk mail has slowed to a trickle nationwide. More »

 MasterCard to 
 Pay Amex $1.8B  

Antitrust settlement will help Amex defray losses as economy continues to drag

Wall Street Journal Wall Street Journal Jun 25, 08 8:51 AM CDT
(Newser) - MasterCard will pay American Express $1.8 billion in 12 quarterly installments, settling a lawsuit that claimed it had blocked banks from offering American Express cards to customers, the Wall Street Journal reports. American Express said the antitrust settlement would "help to lessen the impact of this weakening economic cycle." Amex also sued Visa, which settled for $2.25 billion in November. More »

More about:  settlement • American Express • MasterCard • Visa • antitrust suit

MARKETS

 Stocks Rise on Healthy Data 

GDP, financial rallies treat investors well, for now

Wall Street Journal Wall Street Journal May 29, 08 3:33 PM CDT
(Newser) - The markets saw gains today as good economic data and a rally amid financial shares gave evidence that the nation may be moving past the current slump, the Wall Street Journal reports. The Dow gained 52.19 points to close at 12,646.22, the Nasdaq gained 21.62 to 2,508.32, and the S&P 500 rose 7.41 to 1,398.23. More »

More about:  Dow Jones • S&P 500 • Nasdaq • Bank of America • Wells Fargo • MasterCard • Visa

Interest Soars Sky-High in Visa's $18B IPO

Record-breaking debut could mark turning point for markets

San Francisco Chronicle San Francisco Chronicle Mar 19, 08 8:43 AM CDT
(Newser) - Visa pulled in almost $18 billion in its initial public offering yesterday, the San Francisco Chronicle reports. The credit card company's IPO was the biggest by far in US history and the second biggest ever. The $44-per-share price investors paid was $2 higher than the company's highest estimate, and the price is expected to rise steeply when the shares hit the New York Stock Exchange this morning. More »

More about:  stock market • credit crisis • IPO • credit card • New York Stock Exchange • Visa

Supermarket Breach Exposes 4M Credit Cards

Hannaford grocery stores report 1,800 related fraud cases

Boston Globe Boston Globe Mar 18, 08 9:20 AM CDT
(Newser) - A data security breach at Hannaford, an East Coast supermarket chain, has exposed the credit card information of 4.2 million customers and resulted in 1,800 cases of fraud so far, the Boston Globe reports. The breach, which went undetected for three months, is one of the largest ever, the AP notes. Hannaford, which also runs Sweetbay supermarkets, says no names or personal information got out, just account numbers of credit and debit cards. More »

More about:  fraud • identity theft • credit card • computer security • data theft • MasterCard • Visa • supermarket

Visa Plans
$17B IPO in Risky Market

Public offering would
be the biggest in
Wall Street history

Wall Street Journal Wall Street Journal Feb 25, 08 8:55 AM CST
(Newser) - Visa is hoping to surpass rival MasterCard’s 2006 stock market debut with a $17 billion IPO that would be the largest in Wall Street history. The company today said it hopes to sell some 406 million shares for $37 to $42 each, reports the Wall Street Journal. The biggest previous IPO was AT&T Wireless Group’s $10.62 billion offering in 2000. More »

More about:  SEC • IPO • New York Stock Exchange • shares • MasterCard • Visa • AT&T Wireless

Visa Heads for Biggest IPO in US in Years

Offering expected
early next year could surpass $10B

Wall Street Journal Wall Street Journal Nov 10, 07 12:18 PM CST
(Newser) - Visa is moving ahead on a massive initial public stock offering expected early next year. Papers filed yesterday show that shares could be valued at $10 billion, which would make it the second-largest public offering in US history, the Wall Street Journal reports. The biggest is the $10.62 billion IPO by AT&T Wireless in 2000. More »

More about:  stock market • San Francisco • IPO • credit card • shares • MasterCard • Visa

Visa Settles $2.25B AmEx Suit

Antitrust settlement could be largest ever

Associated Press Associated Press Nov 8, 07 8:28 AM CST
(Newser) - In what could be the largest settlement ever to resolve an antitrust lawsuit, Visa has agreed to pay American Express up to $2.25 billion for blocking member banks from offering rival credit cards, the AP reports. The deal helps clear the way for Visa’s IPO, expected early in 2008. MasterCard, also named in the suit, has refused to settle. More »

More about:  lawsuit • civil lawsuits • American Express • MasterCard • Visa

TJX Data Breach Exposed 94M Credit Cards

Still no arrests after up to $83M is spent with stolen numbers

Associated Press Associated Press Oct 24, 07 7:15 PM CDT
(Newser) - Cyber thieves have pinched 94 million credit cards from a discount retailer—double the last estimate—and spent up to $83 million as far as Hong Kong and Sweden, the AP reports. Banks are now suing the retailer, TJX Cos., to recover their losses. But those losses keep growing: "You know, these [card numbers] are going to be sold off for a period of time in the future, so it's going to continue," says a Visa exec. More »

More about:  hackers • Hong Kong • credit card • Sweden • MasterCard • Visa • TJX

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