Mastercard Faces DOJ Antitrust Probe Over Debit Practices
- Move signals widening of probe once centered on rival Visa
- ‘It’s hard to speculate about the potential outcome,’ CFO says
Photographer: Daniel Acker/Bloomberg
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Mastercard Inc. said the US Department of Justice is investigating whether the company has acted in an anticompetitive manner in its debit-card business, a signal that the agency has widened a probe that previously centered on rival Visa Inc.
Mastercard said it received a civil investigative demand from the department last month seeking documents regarding a potential violation of certain sections of the Sherman Act, a sweeping law meant to protect competition. The company is cooperating with the probe, which focuses on the firm’s US debit program and competition with other networks and technologies, according to a quarterly regulatory filing.