Visa Sued by US in Antitrust Case Over Debit Card Markets

The US Justice Department sued #Visa Inc., alleging the global payments giant illegally monopolized the #debit card market, in the #Biden administration’s first major #antitrust case in the #financial services industry.

Antitrust enforcers alleged in a complaint filed in #Manhattan federal court Tuesday that Visa, which handles more than 60% of the more than $4 trillion in US debit transactions each year, entered into a series of agreements penalizing merchants who sought to use alternatives and paid potential rivals to stay out of the market.

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[bleekskaduwee]

Just figuring out this now, what did Visa do to the government

[JpLuckeyman]

If they weren't a part of it they'd go after BlackRock for being a Monopoly on the market he's the biggest crook of them all

[jostuart]

Oh a monopoly? You mean Mastercard, Amex, Discover etc are all out of business?

[russellh]

How many politicians dumped stock when you told them you’d file a lawsuit before your news conference

[blingn]

Is our government actually going after monopolies again?

[ericmcnellis]

visa should sue them back for defamation