Visa Faces DOJ Probe Over New Debit Card Fees

Law360, New York (May 2, 2012, 10:30 PM EDT) -- Visa Inc. on Wednesday revealed that the U.S. Department of Justice is investigating potential antitrust violations in the company's response to debit card fee regulations in the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The DOJ issued a civil investigative demand March 13 regarding Visa's PIN-authenticated debit card and its Fixed Acquirer Network Fee, according to a filing with the U.S. Securities and Exchange Commission.

The FANF, which Visa introduced recently to help regain some of the fee revenue it lost under the new regulations,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.