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U.S. Justice Department Plans To Open Investigate Visa On Debit Practices

The U.S. Department of Justice has informed Visa (V) of its plans to open an investigation into Visa's U.S. debit practices and is cooperating with the department, the company said in a regulatory filing. "We believe Visa's U.S. debit practices are in compliance with applicable laws," the filing added.

Visa closed Friday's trading at $206.90, down 6.24%.

The U.S. Department of Justice has launched an antitrust investigation into Visa Inc.'s practices regarding debit-card transactions. The department is looking into the network's rules for routing transactions both in stores and online, according to media reports. Representatives for the Justice Department declined to comment.

The Wall Street Journal said the Justice Department's antitrust division was looking in to whether Visa limited merchants' ability to route debit-card transactions over card networks that are often less expensive.

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