American Express to pay $230M settlement over claims of deceptive credit card, wire service sales tactics
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American Express has agreed to pay a $230 million settlement over allegations of deceptive sales tactics related to its credit card and wire services. The settlement is divided into two parts, addressing misleading sales practices for both credit cards and wire services.
January 16, 2025 | 9:30 pm
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American Express is settling claims of deceptive sales tactics with a $230 million payment. This settlement addresses issues with both credit card and wire service sales practices.
The $230 million settlement indicates significant legal and reputational challenges for American Express. Such settlements can lead to short-term negative impacts on stock prices due to potential investor concerns over corporate governance and future financial liabilities.
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