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Government Files Antitrust Suit Against American Express

Wednesday, October 6, 2010 - 4:29 PM
From the Wall Street Journal:
The Justice Department slapped American Express  Co. with a civil antitrust suit after the credit-card company refused to join an industrywide agreement to allow merchants to steer customers toward cheaper forms of plastic.

Those who have cash-back AmEx credit cards like the Fidelity's Retirement Rewards or the Costco Cash Rebate Card, may find these less rewarding if AmEx is forced to abide by the Justice Department's demands. Merchants may not give you a discount if you decide to use your AmEx card.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,611