Visa sued by Justice Dept., accused of debit card monopoly
NEW YORK (AP) — 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, costing consumers and businesses billions of dollars.
The complaint says Visa penalizes merchants and banks who don’t use Visa’s payment processing technology to process debit ...
The agency plans to argue that the company illegally penalizes customers that try to use rival payment processors.
According to the lawsuit, filed in a federal court in New York, the company's practices have resulted in billions of dollars ...
Slapped with a lawsuit. The post This Is How Visa Raises ‘The Price of Nearly Everything,’ DOJ Says appeared first on ...
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