The Department of Justice (DOJ) filed an antitrust lawsuit against Visa. The lawsuit alleges that the financial firm holds a monopoly over debit network markets allowing it to charge banks and markets with exorbitant fees that get passed onto consumers and keep rival companies like PayPal and Square from competing on their level.

Visa Inc. stock fell 1.6% in after-hours trading Monday following reports that the payments giant faces an antitrust lawsuit from the U.S. Justice Department.

The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market.

The U.S. Department of Justice has filed an antitrust lawsuit against Visa, alleging that the debit card corporation uses its dominance in the industry to conduct an illegal monopoly practice for debit card payments that costs businesses and customers billions of dollars.

Key Takeaways Visa shares fell Tuesday morning following reports that the U.S. Department of Justice (DOJ) is preparing an antitrust lawsuit against the payment processor.The DOJ could file a suit as soon as Tuesday accusing the company of using monopolistic tactics to retain its top spot in the payments market,

Credit card stock Visa (V) is dragging the Dow today as the Department of Justice readies to file monopoly claims