Many American Express Customers Will Receive Refund Because of 'Illegal Card Practices'
American Express will refund about $85 million to approximately 250,000 customers.
If you have taken part in American Express’ “Blue Sky” credit card program, you may have some money coming your way. The Consumer Financial Protection Bureau (CFPB) announced an “enforcement action” today against three American Express subsidiaries that will refund about $85 million to approximately 250,000 customers after “illegal card practices,” said CFPB. CFPB alleges that an investigation found that “every stage of the consumer experience, from marketing to enrollment to payment to debt collection, American Express violated consumer protection laws.” “Several American Express companies violated consumer protection laws and those laws were violated at all stages of the game – from the moment a consumer shopped for a card to the moment…
