Justice Department to Sue Visa for Alleged Debit Card Monopoly

The U.S. Department of Justice plans to charge Visa with illegally monopolizing the debit card market in the country, Bloomberg News reported on Monday.

The antitrust division is expected to file a lawsuit in federal court as early as Tuesday accusing Visa of various anticompetitive conduct, the report said, citing unnamed sources. Antitrust enforcers are preparing to accuse Visa of taking steps to prevent competitors from challenging its dominance in the debit card market, according to the report.

Visa and the Justice Department did not immediately respond to Reuters’ request for comment.

(Based on information from the agency.)