A couple of years ago I blogged about my personal experience with American Express and the credit card limit reduction. I really posted it just to vent. Since then that has been one of my most popular posts and has the most comments on this blog. I think it is really cool for people to share their experience with a quick post.
Then a few weeks ago, the Department of Justice decided to sue American Express. Since then this is the only news item on the amex fighting a lawsuit. My prediction will be Amex will settle with the DOJ in the future without admitting guilt. Pretty much like all the other banksters that are caught.
DebtAmerica:
Credit card issuers American Express, Visa and MasterCard face uncertain futures after the U.S. Justice Department brought forth lawsuits that accused them of violating antitrust laws, according to the Bedford Report. Visa and MasterCard both opted to settle the lawsuits, which were related to the fees they charged to merchants for every credit card transaction they processed. Now, retailers can offer lower prices to consumers who opt to pay for a purchase without taking on credit card debt.
However, American Express, which makes more from any transaction involving credit card debt than other issuers, has decided to fight the lawsuit, throwing even more doubt over what will become of its policies, the report said. If AmEx were to lose the lawsuit, it’s not clear how their new policies would affect consumers.
Prior to the suits, merchants had protested these interchange fees for months, saying that they cost them thousands of dollars a year, even for smaller businesses
Lindsay Lohan
Eva Mendes
Julianne Hough
No comments:
Post a Comment