American Express Investor Sues Board Over “Illicit Card Practices”

By  |  November 8, 2012
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American Express investor Bob Lankford has sued Chairman Kenneth Chenault and other directors over alleged “illicit card practices” the company has used in charging late fees, misleading customers and discriminating against older clients, reports American Banker.

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    AmEx was dealt $112.5 million in fines and restitutions last month by the CFPB due to similar procedures.

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