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American Express is being sued by the US government over claims of anti-competitive practices.

submitted on October 4, 2010 by midget in "Member's Lounge"
http://www.bbc.co.uk/news/business-11472465

The Justice Department says the company's contracts with merchants prevent rivals from undercutting it on transaction charges.

The government also sued credit-card giants MasterCard and Visa, but both firms agreed to settle their cases.

American Express has not settled, and said it would fight the charges.
        

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  • 82277
    roberto
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    Posted by roberto on October 5, 2010
    [reply] 1 0
    Big Grin stick it to AX. They deserve it. Den of thieves is what they are.

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