Amex Says It May Be Next On CFPB’s Enforcement List

By  |  August 6, 2012
 | 

American Express says it may be the next company to be targeted by the Consumer Financial Protection Bureau’s enforcement actions.

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    Last month, Capital One was ordered to pay $210 million in refunds, fines and penalties, after the CFPB determined the financial institution was engaging in “deceptive marketing tactics.”

    At least one, and possibly two, of American Express’ business divisions may soon have to make a similar payout, Bloomberg Businessweek’s Dakin Campbell notes. In the meantime, the company will “continue to make changes to certain of [its] card practices and products and established accruals for, among other costs, expected refunds to cardmembers,” an SEC filing shows.

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