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US federal agencies probe Amex’s SME and consumer cards sales practices

February 16, 2021

Amex received a grand jury subpoena from the United States Attorney’s Office for the Eastern District of New York related to its small business cards sales practices, according to Business Insider.

The Consumer Financial Protection Bureau (CFPB) is also seeking information related to Amex’ consumer sales practices.

“We are cooperating with all of these inquiries and have continued to enhance our controls related to our sales practices. We do not believe this matter will have a material adverse impact on our business or results of operations,” the company notes in the filing.

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