The Justice Department accuses Visa of maintaining a monopoly in debit transactions for over a decade by entering exclusive agreements with merchants and banks.
Visa has processed $3.8 trillion in U.S. debit transactions, generating over $7 billion in processing fees, accounting for more than 60% of all transactions.
Attorney General Merrick B. Garland stated that Visa's unlawful conduct affects not just the price of debit card transactions, but the prices of nearly everything.
The lawsuit is part of a broader effort under the Biden administration to curb monopolistic practices and promote fair competition across various sectors.
Collection
[
|
...
]