Published 09/24/2024 7:21:49 p.m.

Justice Department accuses Visa of debit network monopoly that impacts price of ‘nearly everything'

The U.S. Justice Department has filed an antitrust lawsuit against Visa, claiming it stifles competition in the debit card market and costs consumers billions.
The DOJ's complaint states that 60% of debit transactions in the U.S. Use Visa's network, generating over $7 billion in processing fees annually.
Attorney General Merrick B. Garland stated that Visa unlawfully maintains excessive fees beyond competitive market rates.

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BBC News

US accuses Visa of debit card monopoly

The Department of Justice said Visa's actions had slowed competition and raised prices across the economy.

09/24/2024 8:53:23 p.m.·United Kingdom

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The Independent

DOJ accuses Visa of violating antitrust law over debit card use

The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market

09/24/2024 9:19:01 p.m.·London, United Kingdom

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Reuters

US accuses Visa of monopolizing debit card swipes

The U.S. Department of Justice sued Visa for alleged antitrust violations on Tuesday, accusing one of the world's largest payment networks of suppressing competition by threatening merchants with high fees and paying off potential rivals.

09/24/2024 6:30:25 p.m.·United Kingdom

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Associated Press News

Department of Justice sues Visa, alleges the card issuer monopolizes debit card markets

NEW YORK — The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the

09/24/2024 6:30:48 p.m.·United States

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Global News

U.S. sues Visa over alleged debit card monopoly - National

The complaint filed Tuesday says Visa penalizes merchants and banks who don't use Visa's own payment processing technology to process debit transactions.

09/24/2024 7:43:33 p.m.·Toronto, Canada

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abc News

Department of Justice sues Visa, alleges the card issuer monopolizes debit card markets

The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market

09/24/2024 6:30:47 p.m.·United States

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