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Company: Visa USA
Current Parent Company:
Visa
Parent at the Time of the Penalty Announcement:
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Penalty: $100,000,000
Year: 2009
Date: October 22, 2009
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Mega-Scandal:
Price Fixing
Violation Description: Visa agreed to pay about $100 million as its part of a $336 million settlement of litigation alleging that credit card companies conspired to fix foreign currency conversion fees.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:01md1409
Case Name: In re: Currency Conversion Fee Antitrust Litigation
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data:
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Link to PACER Case Docket (must be logged in):
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Link to Archived Court Document:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.