Visa, MasterCard named in antitrust suit
Article Abstract:
The Justice Department has accused MasterCard International and Visa USA of stifling competition and innovation. The government has filed an antitrust lawsuit in the U.S District Court in Manhattan. Visa and Mastercard are the nation's two largest credit card networks, and they are owned by the same group of major banks. The government said that consumers have suffered, because Visa and MasterCard have prevented efforts to develop new products and services. Smaller networks such as American Express and Discover have allegedly been excluded from the network.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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New steps urged to protect privacy of bank customers
Article Abstract:
The Federal Bureau of Investigation (FBI) and banking regulators are calling on banks to implement protective measures for confidential customer data. The FBI and the regulators were referring to the growing number of people who are attempting to sell confidential customer information to such groups as attorneys and debt collectors. According to regulators, there has been a rise in the incidence of account information brokers.
Comment:
FBI and banking regulators call on banks to implement protective measures for confidential customer data
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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