Visa 2008 Annual Report Download - page 191

Table of Contents
VISA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
September 30, 2008
(in millions, except as noted)
District of Columbia Civil Investigative Demand
On January 5, 2007, the Office of the Attorney General for the District of Columbia issued a Civil Investigative Demand, or "CID," to Visa U.S.A.
seeking information regarding a potential violation of Section 28-4502 of the District of Columbia Antitrust Act. The D.C. Attorney General's office is
coordinating parallel investigations by the Attorneys General of New York and Ohio. The CID seeks documents and narrative responses to several
interrogatories and document requests, which focus on PIN debit. Visa U.S.A. continues to cooperate with the Attorneys General in connection with the CID.
On July 1, 2008, Visa U.S.A. amended its rules relating to the routing of so-called "PINless debit" transactions. In conjunction with that change, the
office of the Attorney General of the District of Columbia has notified Visa U.S.A. that it considers Visa U.S.A. to have complied with the CID issued on
January 5, 2007 and that Visa U.S.A.'s rule change responds to concerns that led to its investigation. The Attorneys General of New York and Ohio, who were
conducting parallel investigations, have similarly notified Visa U.S.A. that the rule change responds to the concerns that led to their investigations.
U.S. Department of Justice Civil Investigative Demands
On September 26, 2007, the Antitrust Division of the United States Department of Justice (the "Division") issued a Civil Investigative Demand, or
"CID," to Visa U.S.A. seeking information regarding a potential violation of Section 1 or 2 of the Sherman Act, 15 U.S.C. §§ 1, 2. The CID seeks documents,
data and narrative responses to several interrogatories and document requests, which focus on PIN debit and Visa's No Signature Required program.
On July 1, 2008, the Division notified Visa U.S.A. that the rule change announced by Visa U.S.A. regarding the routing of PINless debit transactions
addressed the concerns that led the Division to issue the CID on September 26, 2007. The Division has closed this investigation.
On September 27, 2007, the Division issued a second CID to Visa U.S.A., also seeking information regarding a potential violation of Section 1 or 2 of
the Sherman Act, 15 U.S.C. §§ 1, 2. The CID seeks documents in response to several requests, which focus on Visa U.S.A.'s agreements with banks that issue
Visa debit cards.
On February 26, 2008, the Division issued a third CID to Visa U.S.A., seeking information regarding a potential violation of the Final Judgment, dated
November 26, 2001, in United States v. Visa U.S.A. Inc. et al., 163 F.Supp.2d 322 (S.D.N.Y. 2001). The CID seeks documents, data and narrative responses
to several interrogatories and document requests, which focus on alleged termination and waiver provisions in certain agreements between Visa U.S.A. and
Visa issuers.
On October 10, 2008, the Division issued a fourth CID to Visa U.S.A., seeking information regarding a potential violation of Section 1 or 2 of the
Sherman Act, 15 U.S.C. §§ 1, 2. The CID seeks documents, data and narrative responses to several interrogatories and document requests, which focus on
certain Visa U.S.A. policies relating to merchant acceptance practices, including Visa U.S.A.'s policies regarding merchant surcharging and merchants' ability
to steer customers to other forms of payment.
Visa U.S.A. is cooperating with the Division in connection with all CIDs.
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