US EditionAmerican Express to Pay $230 Million in Fines for Aggressive Sales Practices
- American Express has agreed to pay more than $138 million to resolve a wire fraud investigation related to its sales and marketing practices, federal authorities announced Thursday.
- Customers were misled by American Express regarding tax deductions for fees on wire products marketed to small and mid-size businesses, according to the U.S. Attorney for the Eastern District of New York's office.
- American Express will pay a $77.7 million criminal fine and forfeit $60.7 million, which represents the net revenue attributed to sales of the wire products, according to the U.S. Attorney's office.
- The U.S. Department of Justice announced that American Express will pay a $108.7 million civil penalty for deceptively marketing credit card and wire transfer products.
52 Articles
52 Articles
American Express to pay $108.7 million to settle allegations of deceptive marketing and falsifying accounts
American Express has agreed to pay a $108.7 million civil penalty to resolve allegations it deceptively marketed credit card and wire transfer products, according to the Justice Department.
American Express to Pay $230 Million to Settle Accusations of Deceptive Practices
American Express has agreed to pay more than $247 million to resolve criminal and civil investigations into alleged deceptive marketing and fraudulent sales tactics related to its wire transfer and credit card products, according to the U.S. Department of Justice (DOJ). The total settlement includes a $77.7 million criminal fine, $60.7 million in forfeiture under a non-prosecution agreement with the U.S. Attorney’s Office for the Eastern Distric…
American Express to pay $230M to settle deceptive marketing, fraud probe
American Express has agreed to pay $230 million to settle a federal probe into deceptive marketing practices and civil fraud allegations, the Department of Justice (DOJ) announced Thursday. Under the settlement released by the DOJ, American Express has agreed to pay a more than $108 million civil penalty to resolve allegations the company violated the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA). In a separate release, th…
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