American Express to Pay $230 Million in Fines for Aggressive Sales Practices

American Express to pay $230 million to settle deceptive sales claims

American Express has agreed to pay $230 million in penalties after settling with the Justice Department and others. The credit card company is paying the fine after allegations that it engaged in deceptive marketing, and touted tax breaks to customers that did not exist, between 2014 and 2021. Federal investigators accused American Express of entering dummy account information on behalf of small businesses, which is a shortcut that salespeople u…

American Express will pay over $138 million to settle fraud investigation

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 New York-based financial giant provided inaccurate tax advice to customers and potential customers on wire products primarily marketed at small and midsize businesses, the U.S. Attorney for the Eastern District of New York’s office said. Customers were told, for e…

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…