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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, ...

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) ...

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.

An Apple credit card is shown with a Visa debit card in a photo taken in New York on Tuesday, Sept. 24, 2024. [Photo: Peter Morgan/AP Photo] ...

Business Department of Justice sues Visa, alleges the card issuer monopolizes debit card markets The complaint filed Tuesday says San Francisco-based Visa penalizes merchants and banks who don't ...

Visa to Face Antitrust Suit Over Debit Card Market Monopoly. The suit follows a 2023 Department of Justice investigation of the card issuer’s business practices.

The scam is known as “card draining.” Visa was sued on Tuesday over a gift card scam. Asia Grace. Schuman, of Scarsdale, New York, said Visa and two Vanilla card issuers knew or should have ...

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 ...