RILA Applauds DOJ Actions on Visa Anticompetitive Practices

RILA Applauds DOJ Actions on Visa Anticompetitive Practices

• 09/24/2024

RILA Applauds Actions by Justice Department Against Anticompetitive Practices of Visa
Congress has no more excuses, time to pass Credit Card Competition Act

Washington, DC - Today, the Retail Industry Leaders Association (RILA) issued the following statement regarding the Department of Justice's (DOJ) action against VISA for their alleged illegal actions to prevent competition in the debit payments market.

"Today's action by the Justice Department confirms what retailers have known for decades about VISA's businesses practices," said Austen Jensen, RILA's Executive Vice Present of Government Affairs.

"This suit highlights the corrupt and anticompetitive behavior of one of the most powerful companies in the country. While this is a critical first step, RILA urges the DOJ to follow through with the litigation in order to ensure these business practices are permanently ended. Congress must also move forward and pass the Credit Card Competition Act to ensure the American payment system is innovative and competitive to the benefit of consumers and not monopolized by VISA or MasterCard."

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RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to elevate a dynamic industry by transforming the environment in which retailers operate.

RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $2.7 trillion in annual sales, millions of American jobs, and hundreds of thousands of stores, manufacturing facilities, and distribution centers domestically and abroad.