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U.S. sues Visa for monopolizing market 09:31. Federal antitrust enforcers are accusing Visa of using its market dominance in payments to stifle competition in the debit card market, raising costs ...

That’s how much Visa charges in debit card fees annually, according to the Justice Department. Key Background. The 13th-most valuable public U.S. company, ...

According to the DOJ's complaint, more than 60% of debit card transactions in the U.S. run on Visa's debit network, which allows the company to charge over $7 billion in fees each year for ...

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 ...

An Apple credit card is shown with a Visa debit card in a photo taken in New York on Tuesday, Sept. 24, 2024. (AP Photo/Peter Morgan) Show Caption. 1 of 2.

The lawsuit, filed in the Southern District of New York, says Visa handles more than 60% of debit card transactions in the U.S. and collects more than $7 billion in annual processing fees.

This action was surfaced by Law.com Radar, which delivers real-time alerting on new litigation across more than 2,900 state ...

An Apple credit card is shown with a Visa debit card in a photo taken in New York on Tuesday, Sept. 24, 2024. (AP Photo/Peter Morgan) Show Caption. 1 of 2.

Department of Justice sues Visa, saying the card issuer monopolizes debit card markets The complaint says Visa penalizes merchants and banks who don’t use Visa’s own payment processing technology.

U.S. Accuses Visa of Monopoly in Debit Cards The financial giant, which processes the majority of debit card spending in the United States, unfairly imposed fees on merchants and deterred rivals ...