Key TakeawaysVisa shares fell Tuesday as the U.S. Department of Justice (DOJ) filed an antitrust lawsuit against the payment processor.The DOJ accused the company of using monopolistic tactics to retain its top spot in the debit card market.The suit is the latest in a string of recent antitrust moves from the DOJ and Federal Trade Commission. Visa (V) shares fell Tuesday as the U.S. Department of Justice (DOJ) sued the payment processing giant over allegedly monopolistic behavior to protect its dominant pos ...

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The US Department of Justice sued Visa for alleged antitrust violations on Tuesday, accusing one of the world’s largest payment networks of suppressing competition by threatening merchants with high fees and paying off potential rivals.Visa processes more than 60% of debit transactions in the US, bringing it $7bn each year in fees collected when transactions are routed over its network, the justice department said. The company protects that dominance through agreements with card issuers, merchants and compe ...

The U.S. Justice Department on Tuesday sued Visa, the world's biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing "exclusionary" agreements on partners and smothering upstart firms.Visa's moves over the years have resulted in American consumers and merchants paying billions of dollars in additional fees, according to the DOJ, which filed a civil antitrust suit in New York for "monopolization" and other unlawful conduct."We allege that Visa has unlawfully amasse ...

The US Department of Justice filed a lawsuit accusing Visa of engaging in anticompetitive behavior.Prosecutors say the financial giant's monopolistic actions affect "the price of nearly everything."Visa did not immediately comment on the lawsuit. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while y ...

The Justice Department (DOJ) on Tuesday filed a lawsuit against Visa, alleging that the company maintained an illegal monopoly over the U.S. debit card market. 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 processing those transactions.It also accuses Visa of illegally maintaining its monopoly power by insulating itself from competition. As an example, the DOJ said V ...

The Department of Justice is expected to file a suit against the credit card processor.Shares of Visa (V -4.17%) were moving lower today on reports that the Department of Justice (DOJ) is preparing to sue the financial services titan over antitrust concerns.Not surprisingly, the stock pulled back on the news, down 4% as of 10:03 a.m. ET. Antitrust strikes againNearly every big tech company, it seems, has been sued by the federal government recently, so it's not a surprise that Visa, which has one of the lar ...

Visa Inc (NYSE:V) stock is dragging the Dow today, last seen down 4.1% to trade at $276.82. Per a Bloomberg report, the Department of Justice's (DoJ) antitrust division plans to file a monopoly lawsuit against the credit card giant's debit card business. The DoJ plans to contend Visa penalizes customers trying to use competing services for payment processing. This is poised to be Visa stock's worst single-session decline since May 2022. The shares hit a Sept. 17, record high of $293.07, but are now testing ...

Chris Lau is an individual investor and economist with 30 years of experience covering life science, technology, and dividend-growth income stocks. He has degrees in Microbiology and Economics. Chris runs the investing group DIY Value Investing where he shares his top stock picks of undervalued stocks with catalysts for upside, dividend-income recommendations with quant and payment calendar tracking, high upside plays, and research requests to help you become a better do-it-yourself investor. Learn more.Top ...

Key TakeawaysVisa shares fell Tuesday morning following reports that the U.S. Department of Justice (DOJ) is preparing an antitrust lawsuit against the payment processor.The DOJ could file a suit as soon as Tuesday accusing the company of using monopolistic tactics to retain its top spot in the payments market, Bloomberg and The New York Times reported.A suit would be the latest in a string of recent antitrust moves from the DOJ and Federal Trade Commission (FTC). Visa (V) shares slipped amid reports that t ...