AmEx Discloses DOJ, OCC Review Of Card Sales--Update
By AnnaMaria Andriotis
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)
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(END) Dow Jones Newswires
February 12, 2021 16:08 ET (21:08 GMT)
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