U.S. Accuses Visa of Monopoly in Debit Cards
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.
Posted inAntitrust Laws and Competition Issues Biden, Joseph R Jr internal-storyline-no Justice Department Kanter, Jonathan S PayPal Stripe Inc Ticketmaster Visa Inc
Why the Justice Department is Targeting Visa
The Justice Department is expected to sue the global payments giant as soon as Tuesday, accusing the company of stifling competition.
Posted inAntitrust Laws and Competition Issues Banking and Financial Institutions Justice Department Regulation and Deregulation of Industry Suits and Litigation (Civil) Visa Inc
Visa Faces an Antitrust Lawsuit by the Justice Dept.
The agency plans to argue that the company illegally penalizes customers that try to use rival payment processors.
Are Travel Loyalty Programs at Risk?
A new agreement by Visa and Mastercard to reduce fees charged to merchants may drain the lucrative rewards that grant free travel to many credit card users.