Friday, 31 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > World News > Department Of Justice Sues Visa, Alleges The Card Issuer Monopolizes Debit Card Markets
World News

Department Of Justice Sues Visa, Alleges The Card Issuer Monopolizes Debit Card Markets

Last updated: September 24, 2024 1:30 pm
Share
Department Of Justice Sues Visa, Alleges The Card Issuer Monopolizes Debit Card Markets
SHARE

The U.S. Justice Department has taken legal action against Visa, accusing the financial giant of engaging in anticompetitive practices in the debit card market. The lawsuit alleges that Visa leverages its dominant position to suppress competition, resulting in higher costs for consumers and businesses.

According to the complaint, Visa imposes penalties on merchants and banks that do not use its payment processing technology for debit transactions, despite the presence of alternative options. This allows Visa to earn substantial fees from every transaction processed on its network. The DOJ claims that Visa’s control over 60% of debit transactions in the U.S. enables it to generate over $7 billion in fees annually.

Attorney General Merrick B. Garland stated that Visa’s actions lead to inflated costs for consumers, as merchants and banks pass on these fees through higher prices or reduced quality of service. The lawsuit is part of the Biden administration’s efforts to combat anticompetitive behavior in various industries, including technology and finance.

The DOJ complaint outlines how Visa uses its transaction volume to enforce agreements with merchants and financial institutions, making it challenging for them to opt for alternative payment processors. Additionally, Visa is accused of stifling competition by entering into partnerships with potential rivals.

In response to the lawsuit, Visa disclosed that it was under investigation by the Justice Department in 2021 and is cooperating with the probe. The company’s revenue has seen a boost from the shift towards online shopping during the pandemic, with even cash-centric businesses adopting card payments.

See also  Pete Rose Memorabilia Value Rises In Death, '63 Rookie Card Is Holy Grail

Analysts predict that any financial impact on Visa from the lawsuit would be limited, given that U.S. debit revenue constitutes a small fraction of its overall revenue. The legal battle could extend for years if a settlement is not reached.

Despite the lawsuit, Visa continues to process trillions of dollars in transactions on its network, with U.S. payments outpacing economic growth. The company’s shares fell following the announcement of the antitrust lawsuit.

Visa, headquartered in San Francisco, has yet to comment on the legal proceedings.

TAGGED:AllegescardDebitDepartmentIssuerJusticeMarketsMonopolizessuesVisa
Share This Article
Twitter Email Copy Link Print
Previous Article NYC fatally stabs beau, hides knife in dishwasher while talking to 911: prosecutors NYC fatally stabs beau, hides knife in dishwasher while talking to 911: prosecutors
Next Article Secrets of J Lo and Ben Affleck’s ‘Disso Queen’ Divorce Lawyer Revealed Secrets of J Lo and Ben Affleck’s ‘Disso Queen’ Divorce Lawyer Revealed
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Dems are gearing up to weaponize Trump’s megabill

Democrats Gear Up to Leverage Trump's Tax-and-Spend Bill for 2026 Midterms In the wake of…

July 3, 2025

Boosted by Trump, banks resume their love affair with fossil fuels

Banks Increase Funding for Fossil Fuel Projects, Alarming Environmentalists The annual "Banking on Climate Chaos"…

June 21, 2025

Rupert Murdoch Loses Legal Bid to Protect Fox News From His Liberal Children |

Rupert Murdoch Loses Legal Bid to Change Family Trust to Protect Fox News from Liberal…

December 10, 2024

OpenAI signs $30bn data centre deal with Oracle

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favorite…

July 2, 2025

Walton Goggins on Rick’s Showdown With Jim

For Rick, this confrontation was the culmination of a lifetime of pain and anger, stemming…

March 30, 2025

You Might Also Like

Teacher Shot By Student Remembers Moment She Thought She Died
World News

Teacher Shot By Student Remembers Moment She Thought She Died

October 31, 2025
New Jersey Homeland Security raid captures 46 undocumented workers at Avenel warehouse
World News

New Jersey Homeland Security raid captures 46 undocumented workers at Avenel warehouse

October 30, 2025
Haiti, Jamaica and Cuba pick up after Hurricane Melissa : NPR
World News

Haiti, Jamaica and Cuba pick up after Hurricane Melissa : NPR

October 30, 2025
Nurses to strike again over unsafe staffing
World News

Nurses to strike again over unsafe staffing

October 30, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?