05:40 AM EDT, 09/24/2024 (MT Newswires) -- Visa (V) will face a US Justice Department lawsuit as soon as Tuesday alleging that it has illegally monopolized the debit card market in the US, Bloomberg reported, citing people familiar with the matter.

The Justice Department's antitrust division plans to accuse the card company of a variety of anticompetitive behaviors that include the making of exclusive agreements to stifle competition, according to the report.

Visa and the Justice Department did not immediately reply to MT Newswires' requests for comment.

Shares of Visa were down about 1.7% in Tuesday premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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