The Justice Department has initiated a civil antitrust lawsuit against Visa, accusing the company of monopolization and other unlawful practices in debit network markets. The suit, filed in the U.S. District Court for the Southern District of New York, alleges that Visa has maintained its monopoly by stifling competition and preventing the development of new alternatives.

"Visa illegally maintains a monopoly over debit network markets by using its dominance to thwart the growth of its existing competitors and prevent others from developing new and innovative alternatives," states the complaint.

Principal Deputy Associate Attorney General Benjamin C. Mizer commented on the lawsuit: "The Justice Department is committed to ensuring that powerful companies do not engage in conduct that harms competition and consumers."

Attorney General Merrick B. Garland also addressed the issue: "We will continue to enforce antitrust laws vigorously to protect American consumers and ensure fair competition."

Principal Deputy Assistant Attorney General Doha Mekki added: "This action demonstrates our resolve to hold accountable those who violate antitrust laws, regardless of their size or market power."