Violation Tracker Individual Record

Company: 
American Express
Current Parent Company: 
American Express
Penalty: 
$99,100,000
Year: 
2012
Date: 
October 1, 2012
Primary Offense: 
consumer protection violation
Secondary Offense: 
credit card violation
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 Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.