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First Data's Response

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...

By Staff Writer | Updated on November 04, 2003

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.

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