New York, Jan 14, 2026, 15:32 EST — Regular session
- Shares of Dave Inc slid roughly 12.5% in afternoon trading, dropping from a high of $212.40 down to $185.35.
- Investors turn their attention back to the politics of card “swipe fees” as senators bring the Credit Card Competition Act back into play
- Dave’s disclosures reveal it generates interchange revenue from debit card transactions, a possible pressure spot if fee structures face scrutiny
Shares of Dave Inc (DAVE.O) dropped 12.5% to $185.35 in afternoon trading Wednesday, after hitting a high of $212.40 earlier. The stock slipped $26.37 from Tuesday’s close, with roughly 765,000 shares changing hands.
The slide follows Washington’s move to bring card fees back under scrutiny. On Tuesday, Senators Dick Durbin and Roger Marshall reintroduced the Credit Card Competition Act, with Durbin’s office confirming President Donald Trump’s support for the bill.
For Dave, the politics hit a tangible line item. A quarterly filing reveals the company collects “interchange” fees from customers using Dave-branded debit cards — these fees represent the slice merchants hand over on card purchases, routed through the payment network.
The policy shift has unsettled major players linked to cards. Visa and Mastercard dropped up to 5% Tuesday, Reuters reported, as investors gauged how aggressively the administration might clamp down on consumer credit costs and card business models.
Analysts remain bullish on Dave, though concerns over fee risk are now clearly part of the discussion. Benchmark stuck with a Buy rating and a $345 price target. Meanwhile, Lake Street and Citizens lifted their targets, citing a strong quarter and better credit performance, according to Investing.com.
Dave operates a consumer finance app featuring cash advances via its ExtraCash product, along with a checking account, according to a Reuters company profile. 1
Trading the policy path remains tricky. Banks and card issuers have cautioned that a proposed one-year 10% cap on credit card interest rates might lead lenders to tighten credit. Morningstar analyst Michael Miller described Trump’s move so far as “mostly a call to action,” lacking concrete policy details. 2
