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.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
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 BriefFRC fines PwC, auditor combined $4.1M over 2019 work of Wyelands Bank
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
-
News BriefDOJ fines MORSE Corp $4.6M for lax cyber controls amid crack down on federal contractors
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
-
News BriefEU regulator questions 'culture of compliance' with Digital Markets Act at Apple, Google
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.