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American Express to refund $85M

Published 10/02/2012 12:00 AM
Updated 10/01/2012 11:44 PM

American Express will reimburse $85 million to about 250,000 customers to resolve accusations that the company violated federal law in its marketing, billing and debt collection practices, the company and the government said Monday.

The investigation of American Express included the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency.

The violations of consumer protection laws started "from the moment a consumer shopped for a card to the moment the consumer got a phone call about long overdue debt," Richard Cordray, the director of the consumer protection bureau, said in a statement.

- New York Times News Service

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