By AnnaMaria Andriotis 

Breaking News....

American Express Co. acknowledged Friday that government agencies, including the Justice Department, have reviewed the company's sales practices around small-business cards.

The company said in a regulatory filing that in May it began responding to a regulatory review led by the Office of the Comptroller of the Currency and the DOJ's civil division. AmEx said the review was connected to "historical sales practices relating to certain small business card sales."

The Wall Street Journal reported last month that federal investigators were investigating whether AmEx used aggressive and misleading sales tactics to sell cards to business owners.

(More to Come)

Write to AnnaMaria Andriotis at annamaria.andriotis@wsj.com

 

(END) Dow Jones Newswires

February 12, 2021 15:52 ET (20:52 GMT)

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