The U.S. Justice Department alleges that the financial services company uses its size and dominance to stifles competition.

The United States Department of Justice (DOJ) has initiated legal action against Visa, accusing the company of maintaining an illegal monopoly over debit network markets. The lawsuit alleges that Visa is using tactics to hinder competition from other firms,

The complaint says Visa penalizes merchants and banks who don't use Visa's own payment processing technology to process debit transactions.

Visa Inc. (NYSE:V) a global payments giant reportedly faces charges by the United States Department of Justice for allegedly monopolizing the domestic debit card industry What Happened: DOJ’s antitrust division is expected to accuse Visa in federal court due to its participation in various anti-competitive activities,

NEW YORK (AP) — The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market, costing consumers and businesses billions of dollars.

The U.S. Justice Department is suing Visa for monopolizing the debit card market while "charging significant fees and stifling competition."

The U.S. Department of Justice has filed an antitrust lawsuit against Visa, alleging that the debit card corporation uses its dominance in the industry to conduct an illegal monopoly practice for debit card payments that costs businesses and customers billions of dollars.

The Department of Justice (DOJ) has filed an antitrust lawsuit against Visa, accusing the financial giant of maintaining a monopoly over debit network markets, as reported by Bloomberg. The lawsuit claims Visa’s control allows it to charge high fees to banks and merchants,