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Violation Tracker Individual Record

Company: Visa USA
Current Parent Company: Visa
Penalty: $2,025,000,000
Year: 2004
Date: January 30, 2004
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Mega-Scandal: Swipe Fees
Violation Description: Visa agreed to pay over $2 billion to settle its role in litigation alleging it and MasterCard improperly required merchants who accepted their credit cards to accept their debit cards as well.
Level of Government: federal
Action Type: private litigation
Court: Eastern District of New York
Civil or Criminal Case: civil
Case ID: 1:96cv5238
Case Name: Wal-Mart Stores, Inc, et al v. Visa USA, Inc., et al
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: (click here)
Link to PACER Case Docket (must be logged in): (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.