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Financial Winners & Losers: AmEx
NEW YORK -- Shares of national banks mostly fell Tuesday on more signs of weakness in the financial sector.
American Express (AXP Quote) won approval late Monday from the Federal Reserve to become a commercial bank as it looks for new ways to fund its business. The status will allow the credit card giant to accept deposits and permanently access government financing that's been used by other banks amid the credit crisis.
AmEx shares were falling 2.8% to $23.30 in recent trading. ...
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