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Violation Tracker Individual Record

Company: American Express
Current Parent Company: American Express
Penalty: $96,000,000
Year: 2017
Date: August 23, 2017
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Mega-Scandal: Discriminatory Lending Practices
Violation Description: The Consumer Financial Protection Bureau took action against two American Express banking subsidiaries for discriminating against consumers in Puerto Rico, the U.S. Virgin Islands, and other U.S. territories by providing them with credit and charge card terms that were inferior to those available in the 50 states. American Express was also said to have discriminated against certain consumers with Spanish-language preferences. American Express paid approximately $95 million in consumer redress during the course of the Bureau's review and American Express' review, and the order required it to pay at least another $1 million to fully compensate harmed consumers.
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.