US Justice Department sues Visa, saying it monopolizes debit card markets

FILE - A Visa debit card and Apple credit card in a photo taken in New York on Sept. 24, 2024. The U.S. Department of Justice accuses Visa of stifling competition in the debit card market.

The U.S. Justice Department filed an antitrust lawsuit against Visa on Tuesday, 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.