American Express is paying $112 million in refunds and fines
10-01-2012 11:23 AM
From the Story....
WASHINGTON (AP) — American Express is paying $112 million in refunds and fines to settle regulators' accusations that it charged unlawful late fees and deceived customers to pressure them to pay off old debts or buy extra credit card services.
The director of the Consumer Financial Protection Bureau, Richard Cordray, said in a statement that the company violated consumer-protection laws "at all stages of the game — from the moment a consumer shopped for a card to the moment the consumer got a phone call about long overdue debt."