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.
- 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.
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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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