U.S. Accuses Visa of Monopoly in Debit Cards - The New York Times
WEB6 days ago — The financial giant, which processes the majority of debit card spending in the United States, unfairly imposed fees on merchants and deterred rivals, the Justice Department said.
This Week In Credit Card News: Justice Department Sues Visa
WEB4 days ago — The U.S. Justice Department filed a lawsuit Tuesday accusing Visa of illegally monopolizing the debit card market. For more than a decade, the department alleges, Visa has abused its dominant ...
DOJ files antitrust suit against Visa over debit card business : NPR
WEB6 days ago — The lawsuit, filed in the Southern District of New York, says Visa handles more than 60% of debit card transactions in the U.S. and collects more than $7 billion in annual processing fees.
Justice Department sues Visa, alleging it has a monopoly in debit …
WEB6 days ago — The U.S. Justice Department sued Visa Inc. on Tuesday, alleging the global payments giant illegally monopolized the debit card market, in the Biden administration’s first major antitrust case in ...
Visa monopolizes debit cards, hurting consumers and ... - CBS News
WEB6 days ago — More than 60% of debit transactions in the U.S. are conducted using Visa's network, with the company earning roughly $7 billion a year in processing fees, according to the complaint.
DOJ sues Visa, saying the card issuer monopolizes debit card …
WEB6 days ago — In 2020, the DOJ sued to block the company’s $5.3 billion purchase of financial technology startup Plaid, calling it a monopolistic takeover of a potential competitor to Visa’s ubiquitous payments network.That acquisition was eventually later called off. Visa previously disclosed the Justice Department was investigating the company in 2021, saying in a regulatory filing it was cooperating ...
Biden DOJ slaps Visa with antitrust suit over debit card dominance
WEBAccording to the DOJ, Visa controls about 60 percent of the U.S. debit card market, allowing it to charge more than $7 billion in network fees each year, much of which is …
Visa is being sued for illegal monopoly that adds to the price of
WEBThe US Justice Department filed a lawsuit Tuesday accusing Visa of illegally monopolizing the debit card market. For more than a decade, the department alleges, Visa has …
Justice Department accuses Visa of debit network monopoly that …
WEB6 days ago — Visa and Mastercard have surged over the past two decades, reaching a combined $1 trillion market cap. That has attracted unwanted attention from regulators.
US accuses Visa of debit card monopoly - BBC
WEBThe company processes more than 60% of debit transactions in the US, according to the complaint, bringing in $7bn in fees annually. As of 2022, its debit card business was bigger by revenue than ...