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Cheddar News
  • 1 year ago
The U.S. Justice Department is set to file an antitrust lawsuit against Visa, alleging the company has illegally monopolized the U.S. debit card market.
Transcript
00:00The U.S. Justice Department is set to file an antitrust lawsuit against Visa,
00:04alleging the company has illegally monopolized the U.S. debit card market.
00:09The lawsuit stems from a lengthy investigation triggered by Visa's failed acquisition of Plaid
00:15in 2021. The DOJ accuses Visa of engaging in anti-competitive practices, such as forming
00:21exclusive agreements to stifle competition and limit technology firms' market entry.
00:26Following the news, shares of Visa fell under pressure.
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