NEW YORK—Federal investigators are probing business card sales practices at American Express.
The inspectors general offices of the Treasury Department, FDIC and Federal Reserve are investigating whether AmEx used aggressive and misleading sales tactics to sell cards to business owners and whether customers were harmed, the Wall Street Journal reported.
“They are also examining whether specific employees contributed to the alleged behavior and if higher-level employees supported it,” The Journal said.
The Office of the Comptroller of the Currency is also investigating business card sales practices at AmEx, the Journal added.