American Express Forced To Up

By: Jim Siedlecki Email
By: Jim Siedlecki Email

It will be role-reversal for American Express cardholders this month. Some of them will be getting a check instead of writing one.

The credit card company will refund $85 million to about 250-thousand customers and pay $27.5 million in fines.

This comes after the Federal Reserve and the Consumer Financial Protection Bureau claim Amex violated federal laws prohibiting deceptive practices, and also charged unlawful late fees.

American Express says customers entitled to the refunds will be notified as soon as possible.

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