Paul Pelosi, husband of former Speaker of the House Nancy Pelosi, recently offloaded more than $500,000 in Visa stock, mere weeks before the Department of Justice (DOJ) filed an antitrust lawsuit against the financial powerhouse.
As reported by The New York Post, this timing raises eyebrows, as Visa, a leading player in the debit card industry, now faces accusations of monopolizing the market.
The DOJ’s antitrust division alleges that Visa leveraged its overwhelming market share to suppress competition, forcing financial technology companies to rely on its services.
BREAKING 🚨:
The DOJ plans to open up a lawsuit against Visa saying they illegally monopolized the US debit card market
Pelosi sold ~$1 Million dollars of Visa $V just 2 months ago
Wild.
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) September 24, 2024
Their dominance, as the DOJ claims, prevents smaller competitors from gaining a foothold in the market. According to the complaint, Visa processes over 60% of U.S. debit transactions, pocketing more than $7 billion annually in fees. […]
— Read More: www.lifezette.com
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