Visa Accused of Antitrust Violations in Debit Cards.

Visa, the ubiquitous payment network, has been accused of illegally monopolizing the debit card market, potentially driving up prices for both businesses and consumers. The Justice Department, in a sweeping lawsuit filed on Tuesday, alleges that Visa's dominance in the market, processing over 60% of debit card transactions in the U.S., has allowed them to engage in anti-competitive practices, keeping fees artificially high and stifling competition.