Lawsuit Filed Against Visa, MasterCard: Visa and...

Lawsuit Filed Against Visa, MasterCard: Visa and MasterCard conspired to prevent other companies from introducing a national debit card network while delaying the launch of a debit card they created jointly, 12 states claim in a lawsuit filed in New York. Visa USA and MasterCard International allegedly undermined competition through a joint venture, called Entree, and by acquiring control of the nation’s two largest automated teller machine networks, according to the complaint. The states that filed suit were New York, California, Connecticut, Louisiana, Maryland, Massachusetts, Minnesota, Tennessee, Texas, Washington, West Virginia and Wisconsin.