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American Express to pay $96 mln to consumers over discriminatory card terms
August 23, 2017 / 4:21 PM / 2 months ago

American Express to pay $96 mln to consumers over discriminatory card terms

WASHINGTON, Aug 23 (Reuters) - American Express will pay $96 million to consumers in Puerto Rico and other U.S. territories over discriminatory terms in its credit card agreements, according to the U.S. Consumer Financial Protection Bureau.

The government agency announced on Wednesday that more than 200,000 consumers were harmed by the practice at two of the company’s banking subsidiaries, which included charging higher interest rates, stricter credit cutoffs, and less debt forgiveness than offered to clients in U.S. states. (Reporting by Pete Schroeder; Editing by Paul Simao)

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