American Express Settles Multiple Allegations with Over $1 Billion in Payments
American Express has agreed to pay over $1 billion to settle various allegations related to deceptive marketing practices, aggressive sales tactics, and fraud investigations. The financial services giant is set to pay $230 million to resolve accusations concerning misleading sales practices and a deceitful marketing campaign. Additionally, it will settle with more than $138 million allocated for claims related to providing improper tax advice and sales misconduct. These settlements are part of a broader response to ongoing scrutiny and investigations from regulatory bodies, including the Department of Justice. This series of settlements underscores significant concerns regarding American Express’s marketing and sales practices.
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