U.S. Opens Probe of Western Union
From Associated Press
The Justice Department has opened a civil antitrust investigation of Western Union Financial Services, the money-transfer subsidiary of First Data Corp.
The government has demanded information about contracts between Western Union, which runs the world’s largest consumer money transfer network, and its independent agents, First Data said.
Denver-based First Data said Western Union’s contract practices “reflect common industry norms.”
First Data rose 38 cents to $38.88 on the NYSE.
