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.