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.
“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.
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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI