American Express pays $138 million to settle wire fraud
Iveta Baksyte
Co-Presenters: Shannon Conroy
College: College of Business and Public Management
Major: Global Business
Faculty Research Mentor: Dawn Adams-Harmon
Abstract:
American Express has agreed to a $138 million settlement over allegations of deceptive marketing and falsified account information. According to the U.S. government, between 2014 and 2017, an affiliated entity of American Express misled small businesses through sales calls, misrepresenting credit card rewards, fees, and the necessity of credit checks. Additionally, the entity allegedly submitted false financial details, including inflated business income, for prospective customers.