Federal Regulators Fine American Express an Additional $27.5 Million
WASHINGTON, D.C.–(ENEWSPF)–October 1, 2012. The Consumer Financial Protection Bureau (CFPB) today announced an enforcement action with orders requiring three American Express subsidiaries to refund an estimated $85 million to approximately 250,000 customers for illegal card practices. This action is the result of a multi-part federal investigation which found that at every stage of the consumer experience, from marketing to enrollment to payment to debt collection, American…
