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.
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American Express

(AXP) - Get Report

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

.

American Express

on Thursday said it would lay off 10% of its workforce and take other cost-saving measures, after posting a big loss last week.

Visa

(V) - Get Report

also posted a big third-quarter loss on Wednesday.

This article was written by a staff member of TheStreet.com.