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Dems asks DOJ To Scrutinize Intuit’s $7.1B Credit Karma Buy

By  |  April 8, 2020

Democratic lawmaker David Cicilline is asking the US Department of Justice (DOJ) to take a closer look at TurboTax maker Intuit’s planned US$7.1 billion acquisition of personal finance website Credit Karma, citing antitrust concerns.

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    “Without Credit Karma’s free tax filing product, consumers will have far fewer choices and many of them will have to pay $60 and up for a product that is available for free today,” Wyden, the top Democrat on the Senate Finance Committee, wrote in a letter to DOJ’s Makan Delrahim.

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    Wyden worries that in addition to the antitrust raised by the deal, Intuit’s US$7.1 billion Credit Karma buy would raise serious questions about the impact on American’s privacy. Credit Karma provides a free service to more than 100 million American users and as a result the company holds a huge amount of sensitive user data. 

    Full Content: Baltic Times

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