X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Other firms in other industries have generally given up when the Department of Justice has questioned a business move on anti-trust grounds, but not First Data. The company came out swinging on October 23, when the DOJ filed its suit, and CEO Charlie Fote has appeared in the media making arguments against DOJ’s complaint. In media reports Fote has questioned the DOJ’s splitting of PIN debit from signature debit, noting that this is like saying that the New York Yankees and the Florida Marlins played two different sports. He also pointed to the losses in clients that STAR has had since the merger was first announced, arguing that had First Data applied to clear the anti-trust law just three weeks ago, as opposed to back in April, it would have passed easily.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.