Visa Sued by US DOJ Over Antitrust Matter in Federal Court

By Leah Nylen

Published: September 24, 2024 at 1:56PM EDT

Barry Schwartz, chief investment officer and portfolio manager at Baskin Wealth Management, joins BNN Bloomberg and talks about Visa is about to face U.S. justice department antitrust lawsuit.

(Bloomberg) -- The US Justice Department sued Visa Inc. over an antitrust matter, according to a filing in federal court in Manhattan.

The case, for which details weren’t immediately available, was filed on Tuesday. US antitrust enforcers have been preparing a case accusing Visa of taking steps to keep rivals from challenging its dominance in the debit card market, according to people familiar with the matter.