The U.S. Justice Department sued Visa Inc. on Tuesday, alleging the global payments giant illegally monopolized the debit card market, in the Biden administration’s first major antitrust case in ...

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.

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 ...

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.

Visa is a very big middleman: It processed $3.8 trillion in U.S. debit transactions in the year through June, generating over $7 billion in processing fees per year, the Justice Department said.