DOJ Sues Visa Over Alleged Illegal Monopoly on Debit Transactions
By Sam Dorman The Justice Department sued Visa for allegedly stifling competition in the market for debit card payments. A complaint filed in the Southern District of New York on Sept. 24 alleged that the credit card giant violated Sections 1 and 2 of the Sherman Antitrust Act. “We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge…
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