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Consumer Protection Bureau Requires American Express To
Refund $85 Million For Deceptive And Illegal Practices

post from ThinkProgress on 01 October 2012 11:30:26 AM. © ThinkProgress

The Consumer Financial Protection Bureau (CFPB) — created as part of the 2010 Dodd-Frank financial reform law — will force three subsidiaries of American Express “to refund an estimated $85 million to approximately 250,000 customers for illegal card practices,” according to a statement. The CFPB found that American Express misled cardholders about benefits they’d receive, [...]

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