Credit Card Companies Down Today Amid Regulation Concerns (COF, V, DFS)

Credit card companies including Capital One Financial (NYSE: COF), Visa, Inc (NYSE: V), and Discover Financial Services (NYSE: DFS) are all down today after the FED proposed changes to the "Truth in Lending Act".

These changes include prohibiting 1st year rate hikes, limiting card issuance to customers under 21 years old, and limiting interest calculation methods.

In mid- afternoon trading Capital One is down 3% to $35.60/share, Visa is down 2.5% to $69.33/share, and Discover is down 1.8% to $16.10/share.