Violation Tracker Individual Record
Company:
Visa USA Inc.
Current Parent Company:
Visa
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 Parent:
USA
HQ State of Parent:
California
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of 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.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
