Federal Investigators Probing American Express Over Small Business Sales Practices

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Inspector general offices of Treasury Department, Federal Deposit Insurance Corp. and Federal Reserve are investigating if American Express used aggressive and misleading sales practices to sell cards to small businesses and if customers were harmed according to WSJ. In addition the Office of the Comptroller of the Currency is investigating business-card sales practices at AmEx.

American Express has denied any wrong doing stating:

We have robust compliance policies and controls in place, and do not tolerate misconduct, – AmEx spokeswoman





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