The DOJ Is Suing Visa Over Alleged Debit Network Monopoly

The department said Visa's actions over the years have resulted in American consumers and merchants paying billions of dollars in additional fees.

The Department of Justice is suing the world’s biggest payment network.

The DOJ accused Visa of an illegal monopoly over debt payments by imposing “exclusionary” agreements on partners and overshadowing upstart firms.

The department said Visa’s actions over the years have resulted in American consumers and merchants paying billions of dollars in additional fees.

It accused the network of unlawfully amassing the power to extract those said fees that far exceed what it could charge in a competitive market.

Visa said the lawsuit has no legal basis and said it ignores the reality that Visa is just one of many competitors that is thriving in a debit space that is growing.