The US Department of Justice filed a lawsuit against payment card issuer Visa on Tuesday, alleging that the company abused its dominant position in the United States.
In the lawsuit, filed in New York, U.S. authorities accuse Visa of abusing its dominant position by imposing exclusive agreements on banks and merchants.
“We allege that Visa illegally abused its power to charge fees far in excess of the rates it could obtain in a competitive market,” Attorney General Merrick Garland said in a press release.
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