American Express will refund $85 million for what government officials called deceptive practices involving about 250,000 customers.
The Consumer Financial Protection Bureau said Monday that American Express (AXP, Fortune 500) subsidiaries illegally charged late fees, deceived customers by promising non-existent money rewards, and discriminated against new applicants over the age of 35.
"Laws were violated at all stages of the game," said CFPB director Richard Cordray in a statement.
http://money.cnn.com/2012/10/01/pf/american-express-refund/index.htmlThis is the agency Romney wants to gut. Under Bush, credit card debt & delinquency rates surged.
