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Violation Tracker Individual Record

Company: Visa USA Inc.
Current Parent Company: Visa
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $6,400,000
Year: 2008
Date: January 16, 2008
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: Visa and Mastercard agreed to pay a total of $12.8 million to settle allegations that they engaged in anti-competitive practices. The announcement did not indicate how much each company would pay. Here we assume the total was divided evenly between them.
Level of Government: state
Action Type: agency action
Agency: West Virginia Attorney General
Civil or Criminal Case: civil
Facility State: West Virginia
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: W.Va. settles lawsuit against Visa, MasterCard, Associated Press, January 16, 2008 (via Nexis).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.