American 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.
- The company misled customers by touting tax breaks that simply didn’t exist, according to Harry Chavis, a special agent in charge at the Internal Revenue Service’s office in New York.
- American Express will pay a $77.7 million criminal fine and forfeit $60.7 million, representing the net revenue attributed to sales of the wire products, according to the U.S. Attorney’s office.
- The government alleged that between 2014 and 2017, American Express used an affiliated entity to deceptively market credit cards to small businesses, according to the U.S. Department of Justice.
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Leaning Left3Leaning Right7Center19Last UpdatedBias Distribution66% Center
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- 66% of the sources are Center
66% Center
C 66%
R 24%
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