New York, January 11, 2026, 10:35 ET — Market closed
- Visa closed Friday down 0.7%, with investors bracing for a week packed with policy and inflation updates
- Trump brought back the idea of a one-year 10% cap on credit-card interest rates, though the specifics remain vague
- Visa shareholders will vote later this month on proposals concerning governance and AI-related risks
Visa Inc (V.N) shares ended Friday at $349.77, slipping $2.47. They’re expected to draw attention again Monday when U.S. markets reopen, after President Donald Trump renewed his push to cap credit-card interest rates at 10% for a year. (Barron’s)
The proposal focuses more on the economics of card lending than on the mechanics of payments. But it ultimately hits where investors pay attention to Visa: namely, if policy shifts will alter how banks issue credit and how easily consumers use their cards.
Inflation and rate expectations are already carrying much of the weight for financial stocks. The Consumer Price Index, a key inflation measure in the U.S., is set to be released Tuesday at 8:30 a.m. ET. (Bureau of Labor Statistics)
Trump pushed for a one-year, 10% cap on credit card interest rates, hoping to see it implemented by Jan. 20. He didn’t specify if it would come via executive order or legislation, according to the Associated Press. Brian Shearer, director of competition and regulatory policy at the Vanderbilt Policy Accelerator, argued, “A 10% credit card interest cap would save Americans $100 billion a year without causing massive account closures, as banks claim.” (AP News)
Bank trade groups fired back swiftly. “If enacted, this cap would only drive consumers toward less regulated, more costly alternatives,” the Bank Policy Institute and allied associations said in a joint statement. (Bank Policy Institute)
Visa and Mastercard (MA.N) don’t face earnings risks as directly as card issuers do, since their revenue comes from transaction fees, not interest. The real issue for Visa investors is the ripple effect: will tougher credit conditions, fewer rewards, or lower limits slow down spending? (Yahoo Finance)
Visa faces company-specific challenges as its shareholder meeting approaches. Bowyer Research pushed investors to back a proposal demanding Visa disclose how it manages risks related to its products being used in deepfake content, including cases involving child exploitation, according to a filing dated Jan. 9. (SEC)
In a separate exempt-solicitation filing, the National Legal and Policy Center pushed shareholders to support a proposal for a policy mandating an independent board chair. They argued that the current split between CEO and chair isn’t secured by governance rules.
Visa set its 2026 annual meeting for Jan. 27, kicking off at 8:30 a.m. Pacific time, per its investor relations calendar. (Visa Investor Relations)
Heading into Monday, traders want clarity on how Trump’s cap proposal will actually play out—whether it turns into a draft bill, an official White House move, or just another headline that fizzles quickly. According to The Guardian, Trump said the cap would start on Jan. 20.
But the route from policy chatter to Visa’s revenue isn’t straightforward. Lenders might tighten credit lines or slash rewards to protect profits, slowing card purchase growth. And if the cap falters, the focus could shift back to the usual engines — consumer spending, travel, cross-border volumes, and interest rates.
The next clue on card demand could come from major bank earnings and their guidance. JPMorgan Chase plans to release its results Tuesday morning, with a call set for 8:30 a.m. ET. Visa is also slated to report later this month; Nasdaq’s earnings calendar lists Jan. 29, though Visa hasn’t confirmed that date. (JPMorgan Chase)
