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Visa says DOJ to look into its debt practices in the U.S.

Economy, Finance

Visa Inc. said in a filing Friday that the Justice Department has informed the company it plans to open an investigation into Visa’s U.S. “debit practices.” Visa has received a notice to preserve documents related to the investigation but not yet a civil investigative demand, the company said. “We believe Visa’s U.S. debit practices are in compliance with applicable laws,” and is cooperating with authorities, Visa said, without elaborating further. Shares of Visa were flat in the extended session Friday after ending the regular trading day down 6%.

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