Credit Reporting

American Express to Pay Millions in Refunds and Fines

By |October 2nd, 2012|

By: Jeffey B. Lapin

The Consumer Financial Protection Bureau (CFPB) along with other federal agencies announced on October 1, 2012, that American Express Co. (AMEX) will pay $112.5 million in refunds and fines. These agencies alleged that three AMEX subsidiaries violated a number of federal laws with regard to credit cards, credit reporting and debt collection. Nearly $85 million of this money will go to approximately 250,000 customers eligible consumers. […]

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