ss_blog_claim=bd50edc517cf0b7549fe6b5f63b6b5f8 The SLS Business Finance Blog: Visa Covers Lawsuit Charges

Monday, December 22, 2008

Visa Covers Lawsuit Charges

Visa Inc. just deposited $1.1 billion into its litigation account to cover legal charges. Visa recently became a publicly held company, the giant set aside $3 billion to cover lawsuits, but the company has already spent $2.1 billion in a settlement with American Express Co for anti-competence practices. In addition, the credit card network agreed in October to pay $1.89 billion to Discover Financial Services over the next year for a similar settlement, surpassing the funds initially separated to cover legal charges.

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