pymnts.com pymnts.com

AmEx Faces Fed Inquiry On Business Card Sales Tactics

Officials at the Federal Reserve, the Federal Deposit Insurance Corp. (FDIC) and the Treasury Department are looking to see if American Express Co. (AmEx) harnessed strong and deceptive sales practices for card sales to business owners and if clients experienced negative effects, The Wall Street Journal reported Thursday (Jan. 7), citing unnamed sources. The paper reported that the Office of the Comptroller of the Currency (OCC) is...