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Violation Tracker Individual Record

Company: American Express
Current Parent Company: American Express
Penalty: $69,100,000
Year: 2013
Date: December 23, 2013
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 ordered American Express to refund an estimated $59.5 million to more than 335,000 consumers for allegedly illegal credit card practices. These practices were said to include unfair billing tactics and deceptive marketing with respect to credit card "add-on products" such as payment protection and credit monitoring. American Express was required to pay an additional $9.6 million in civil penalties 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.