Visa, Mastercard, American Express Face Brazilian Probe Over Competition Law

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(RTTNews.com) - Visa Inc. (V) disclosed in a regulatory filing that On October 15, 2018, the Brazilian Administrative Council for Economic Defense or "CADE" initiated an investigation against Visa, Mastercard, American Express and Elo seeking information regarding potential competition law violations with respect to network rules that require acquirers to receive certain information from payment facilitators.

Visa said it is cooperating with CADE.

Brazil's payments industry has swelled in recent years, with more than 30 processors attending a meeting with the country's central bank to handle and settle payments.

Read the original article on RTTNews (http://www.rttnews.com/2956037/visa-mastercard-american-express-face-brazilian-probe-over-competition-law.aspx)

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This article appears in: World Markets , Stocks , 401k , Politics , Banking and Loans , Retirement
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