Mastercard facing DOJ probe into debit practices
By 
Adrianne Appel2023-04-28T19:22:00
Mastercard said it is under investigation by the Department of Justice’s (DOJ) Antitrust Division regarding the company’s debit card program.
In March, the DOJ delivered a civil investigative demand (CID) to Mastercard concerning its debit program and competition with other payment networks and technologies, the company said in a first-quarter filing with the Securities and Exchange Commission on Thursday.
The DOJ is probing whether Mastercard violated Sections 1 or 2 of the Sherman Antitrust Act, the company said. The Sherman Act gives federal agencies the power, under certain circumstances, to curb commercial activity that is viewed as anticompetitive.
Related articles
-
News Brief
Five more board members resign in DOJ antitrust sweep
Five corporate board members resigned after being flagged by the Department of Justice for potentially violating the antitrust provisions of the Clayton Act.
-
News BriefFTC proposes full-scale ban on noncompete clauses
The Federal Trade Commission proposed a rule that would ban new and existing noncompete clauses by employers, claiming they stifle healthy competition, dampen wages, and raise the price of goods.
-
ArticleAntitrust Division’s revised leniency policy stresses prompt reporting
The prompt self-reporting of any involvement in an antitrust cartel will be a key consideration going forward in receiving leniency from the Department of Justice.
More from Regulatory Enforcement
-
News BriefDOJ targets $14.6B in health care fraud with focus on transnational crime
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
-
News BriefFTC raises antitrust concerns over $1.57B Circle K deal, orders divestitures
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
-
News BriefJudge reinstates fired CPSC commissioners in latest battle over government cuts
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.