DOJ poised to sue Visa for antitrust violations
Justice Department lawyers have been investigating the payments giant since blocking the deal for fintech startup Plaid in 2021.
The Justice Department is poised to hit Visa with an antitrust lawsuit involving its debit card business, according to three people with direct knowledge of the matter.
The DOJ plans to accuse Visa of using its dominant position in the debit card business to muscle out rivals with merchants and consumers, according to two of the people, who were granted anonymity to discuss a confidential matter.
The case could be filed as soon as Tuesday.
A DOJ spokesperson declined comment. A Visa spokesperson did not immediately respond to a request for comment. Bloomberg previously reported the pending lawsuit.
continue reading »