American Express Settles for Over $138 Million After Misleading Customers with False Tax Advice on Wire Products: A Deep Dive into the Scandal
NEW YORK – In a significant blow to its reputation and finances, American Express Company (AMEX) has agreed to a hefty settlement exceeding $138 million after admitting to deceptive sales practices involving two of its wire transfer products, Payroll Rewards and Premium Wire (PR/PW). The settlement, announced by Judy Philips, Acting United States Attorney for