What happened to Visa last night? The stock was seven and a half percent lower on the session, giving back most of the positive action over the last 10 weeks. It has all to do with the capping of swipe fees of specifically debit cards, of which Visa has nearly a one third share in the US. Cast your mind back, the original fee was set at 12 US cents, but the payment processing companies managed to hike that to 21 cents. Yesterday a court, a District Court, overruled the US Fed's authority to raise the fee, at the time. It seems like a knee jerk reaction to me, nothing is final. Nothing is ever final in terms of rules and regulations set in stone by politicians. It changes and evolves. We will see what transpires, but I doubt that it is a huge deal for now, but would have a fair impact if reversed.