A court in the United States has begun hearing the Government case against the credit card companies Visa and Mastercard for alleged antitrust violations that limit competition.
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Still flushed from their victory in that case, US competition regulators are flexing their muscles for a battle with the credit card industry.
The credit card giants Visa and Mastercard together control over 75% of the US market.
They are now defending themselves before a federal court in New York against charges that they abuse that power.
The Justice Department brought the case in late 1998, claiming the credit card companies had tried to curb competition.
Conflict of interest?
Its major concerns include the exclusivity rule.
This prevents banks which issue Visa or Mastercard from doing business with other card networks such as American Express.
It is also concerned that the issuing banks are also shareholders of both networks and sit on both boards.
The Justice Department says these practices eliminate certain forms of competition between the owner banks and put rival card issuers at a major disadvantage.
This, it says, reduces consumer choice and slows technical innovation in the credit card market.
Visa and Mastercard, predictably, disagree.
They contend that removal of the restrictive rules would allow competitors free entry into a card network they had no part in building.
Analysts say the case could have far-reaching effects on the financial industry.
If the Justice Department wins, it could lead to a major restructuring of the two networks, and banks which take part in the running of both organisations might have to choose one or the other.