Visa Says DOJ Papering Over Plaid Deal's Benefits

Law360 (November 30, 2020, 6:59 PM EST) -- Visa has told a California federal court that the U.S. Department of Justice is overlooking a host of major benefits arising out of its planned $5.3 billion tie-up with Plaid and wrongly focusing on the deal's alleged antitrust implications.

The DOJ's Antitrust Division is challenging the credit card giant's proposed deal by alleging that it's trying to block emerging competition from an upstart financial services rival, with the government hoping to start a trial in September but Visa pressing for a faster timetable.

In a Friday filing, Visa denied numerous allegations in the DOJ's Nov. 5 complaint while only expressly admitting...

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