Visa Shares Fall Nearly 5% on Report of DOJ Probe
20 March 2021 - 3:49AM
Dow Jones News
By Colin Kellaher
Shares of Visa Inc. fell nearly 5% on Friday after The Wall
Street Journal reported that the Justice Department is
investigating whether the largest U.S. card network is engaging in
anticompetitive practices in the debit-card market.
People familiar with the matter told the Journal that the
department's antitrust division has been gathering information and
asking whether Visa has limited merchants' ability to route
debit-card transactions over card networks that are often less
expensive.
A Visa spokesman declined to comment, the Journal reported.
Visa shares were recently down 4.8% to $210.09.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 19, 2021 12:34 ET (16:34 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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