Visa’s foray into fintech provokes DoJ antitrust investigation
The U.S. Department of Justice, or DoJ, recently publicized an investigation into Visa (NYSE:)’s ongoing acquisition of fintech company Plaid.
“Today, the Department of Justice filed a petition in the U.S. District Court for the District of Massachusetts to enforce Bain & Company’s compliance with the department’s Civil Investigative Demand (CID),” the DoJ said in an Oct. 27 public statement. Essentially, U.S. authorities have taken legal action to obtain information from Boston-based consulting giant Bain & Company on Visa’s acquisition of Plaid.
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