Visa Faces DOJ Antitrust Case Over Debit Cards, Bloomberg Reports
--The U.S. Department of Justice plans to file a lawsuit alleging that Visa illegally monopolized the debit card market in the country, Bloomberg reports, citing unnamed sources.
--According to Bloomberg, the DOJ's antitrust division intends to file claims in a federal court as soon as Tuesday.
--The regulator is set to accuse Visa of preventing rivals from challenging its dominance in the debit card market, in part by making exclusive agreements that hindered the expansion of competing networks and prevented technology companies from entering the market, Bloomberg says.
--Visa and the Department of Justice declined to comment for Bloomberg's story.
Full story: https://www.bloomberg.com/news/articles/2024-09-23/visa-faces-justice-department-antitrust-case-over-debit-cards
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
September 24, 2024 06:43 ET (10:43 GMT)
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