Stock Market News

Visa faces US DOJ antitrust case on debit cards, Bloomberg News reports

09/23/2024

Less than a minute

2024.09.23 20:30

(Reuters) -The U.S. Department of Justice plans to allege that Visa (NYSE:) illegally monopolized the country’s debit card market, Bloomberg News reported on Monday.

The antitrust division is set to file a lawsuit in federal court as early as Tuesday, accusing Visa of various anticompetitive behaviors, the report said, citing unnamed sources.

© Reuters. FILE PHOTO: Visa credit and debit cards are seen in this picture illustration taken August 2, 2022. REUTERS/Benoit Tessier/File Photo

Antitrust enforcers are preparing to accuse Visa of taking measures to prevent competitors from challenging its dominance in the debit card market, according to the report.

Visa and the DOJ did not immediately respond to Reuters’ requests for comment.

09/23/2024

Less than a minute

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