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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,...
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