Visa shareholders rejected a proposal Wednesday that would have required the nation's largest card network to disclose publicly more information about its lobbying activities, according to the activist shareholder group behind the measure.

The lobbying disclosure proposal received about 31% of the votes cast at Visa's annual meeting, including abstentions, says Lauren Compere, managing director of Boston Common Asset Management. That's short of the 50% threshold needed for approval.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.