Summary
Visa Inc. disclosed in an 8-K filing on March 18, 2021, that the U.S. Department of Justice (DOJ) has informed the company of its intent to open an investigation into Visa's U.S. debit practices. While Visa has not yet received a formal Civil Investigative Demand, it has been issued a notice to preserve relevant documents pertaining to this investigation. The company stated that it believes its U.S. debit practices are in compliance with all applicable laws and that it is cooperating fully with the DOJ.
Key Highlights
- 1U.S. Department of Justice (DOJ) to investigate Visa's U.S. debit practices.
- 2Visa has received a notice to preserve documents related to the investigation.
- 3No Civil Investigative Demand (CID) has been issued yet.
- 4Visa maintains its U.S. debit practices are compliant with applicable laws.
- 5Visa is cooperating with the DOJ investigation.
Frequently Asked Questions
This filing is primarily to inform investors that the U.S. Department of Justice (DOJ) plans to investigate Visa's U.S. debit practices.
The DOJ has informed Visa of its intent to investigate and has issued a notice to preserve documents. Visa has not yet received a formal Civil Investigative Demand (CID).
Visa states that it believes its U.S. debit practices are in compliance with applicable laws.
Visa has confirmed that it is cooperating with the Department of Justice.