Visa says DOJ to look into its debt practices in the U.S.
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%.
Visa Inc. said in a recording Friday that the Justice Department has educated the organization it intends to open an examination concerning Visa's U.S. "charge rehearses." Visa has gotten a notification to protect records identified with the examination yet not yet a common analytical interest, the organization said.
"We trust Visa's U.S. charge rehearses are in consistence with relevant laws," and is helping out specialists, Visa said, without expounding further. Portions of Visa were level in the all-inclusive meeting Friday in the wake of finishing the ordinary exchanging day down 6%.