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Hacker News readers should be aware that the Department of Justice has sued Visa for monopolization and other unlawful conduct: https://www.justice.gov/archives
by safety1st 1y ago
Hacker News readers should be aware that the Department of Justice has sued Visa for monopolization and other unlawful conduct: https://www.justice.gov/archives/opa/pr/justice-department-sues-visa-monopolizing-debit-markets https://www.justice.gov/archives/opa/pr/justice-department-s...
There was also a recent class action lawsuit by business owners against both Visa and Mastercard accusing them of anti-trust violations, that was settled for $5.5B.
It's not yet clear how seriously the Trump Administration will take the lawsuit against Visa. There is mounting evidence and sentiment that both of these companies are not just self-appointed censors, they're also criminal entities who use their market power to extort and abuse both their customers and partners. Now more than ever it's important to contact whoever represents you in the government and tell them that a settlement won't cut it and you've had enough of criminal enterprises dictating the future of both United States and world society. There simply aren't any other solutions to organized corrupt power at this scale, it's either hand the world over to a tyranny ruled by this growing form of organized corporate crime, or act through the public institutions that we as the People have endorsed to represent us.
- ethbr1 1y agoTaking one look at the FCC, Americans should be more worried about this administration’s willingness to leverage any government power into coerced private industry action favorable to them. ‘That DoJ action? Might go away if you just _____.’