Visa Inc. is urging its shareholders to reject a proposal by activist investors that would require the card network to reveal detailed information about its lobbying activities.

The proposal is part of a larger campaign by liberal investor groups to target companies with ties to the American Legislative Exchange Council, a conservative group that has helped draft state laws on hot-button issues including immigration and voter identification. According to news reports, Visa contributed $50,000 to the group's annual meeting and served on one of its task forces.

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