American Express to pay $230 million to settle DOJ fraud probe, deceptive marketing claim
Posted: Jan 16, 2025
- American Express to pay $230 million to settle DOJ fraud probe and deceptive marketing claim
- Includes $138 million for inaccurate tax advice and $108.7 million for deceptive credit card marketing
- Prosecutors alleged Amex misled customers about tax breaks and credit card rewards
- Amex internal investigation led to about 200 employees being fired
- Settlement does not include admission of liability
- Agreements with Federal Reserve and IRS expected to be finalized
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