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Violation Tracker Individual Record

Company: AMERICAN EXPRESS COMPANY
Current Parent Company: American Express
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $9,000,000
Year: 2012
Date: October 1, 2012
Offense Group: financial offenses
Primary Offense: banking violation
Secondary Offense: credit card violation
Violation Description: The Federal Reserve Board announced a formal enforcement action, including a $9 million civil money penalty, against American Express Company and American Express Travel Related Services Company, Inc. to address what it called deceptive marketing and debt collection practices and associated deficiencies in compliance risk management and internal audit.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
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.