U.S. federal investigators probe business-card sales practices at AmEx - WSJ

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Federal investigators are probing business-card sales practices at American Express Co, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The investigators are looking into whether AmEx allegedly"used aggressive and misleading sales tactics to sell cards to business owners and whether customers were harmed," according to the report.

“We have conducted a detailed, independent review of these sales from this time period, and found no evidence of a pattern of misleading sales practices,” the spokesman said in an email. The Inspector General’s office at the Treasury Department, the Federal Deposit Insurance Corp and the Federal Reserve are also examining whether specific employees contributed to the alleged behavior and if higher-level employees supported it, the WSJ report added.The Office of the Comptroller of the Currency is also investigating business-card sales practices at the company, the report said, citing people familiar with the matter.

 

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