AmEx Draws Feds' Scrutiny Over Surcharges
American Express is being probed by the Justice Department for certain fees charges to merchants, according to a regulatory filing Friday.
American Express
(AXP)
is being probed by the
Justice Department
for certain fees charges to merchants, according to a regulatory filing Friday.
AmEx said it would cooperate with the department's request for information related to "merchant surcharging and its 'anti-steering' policies that prohibit merchants from discriminating against the card in favor of other forms of payment," according to the quarterly filing with the
Securities and Exchange Commission
.
on Thursday said it would lay off 10% of its workforce and take other cost-saving measures, after posting a big loss last week.
(V)
also posted a big third-quarter loss on Wednesday.
This article was written by a staff member of TheStreet.com.
