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Violation Tracker Individual Record

Company: American Express
Current Parent Company: American Express
Penalty: $99,100,000
Year: 2012
Date: October 1, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: credit card violation
Mega-Scandal: Credit Card Issuer Abuses
Violation Description: The Consumer Financial Protection Bureau 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 Express violated consumer protection laws. American Express was also required to pay a penalty of $14.1 million to the CFPB.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.