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Violation Tracker Individual Record

Company: American Express Bank FSB
Current Parent Company: American Express
Penalty: $4,000,000
Year: 2016
Date: October 17, 2016
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: American Express agreed to pay at least $4 million and up to $6 million to settle litigation alleging it changed fixed interest rates to variable rates without permission or notification.
Level of Government: federal
Action Type: private litigation
Court: Central District of California
Civil or Criminal Case: civil
Case ID: 2:09cv7335
Case Name: Alfredo M. Lopez et al v. American Express Bank FSB et al
Private Lawsuit Resolution Type: settlement
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)
Link to PACER Case Docket (must be logged in): (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.