Amex set to face U.S. in antitrust trial over credit card fees

World News: . []

American Express and American Express corporate cards are pictured in EncinitasBy Andrew Longstreth NEW YORK (Reuters) - American Express Co is set to face off against the U.S. government and 17 states in a trial that begins on Monday over claims that it stifles competition from credit card providers that charge lower processing fees. At issue in the trial, expected to last two to three months, are American Express rules that bar its millions of merchants from offering incentives for customers to use less-expensive credit cards or cash when making purchases. Amex, according to the government, charges the highest processing fees on average of any card network. Amex asserts that the rules protect customers from price discrimination and have helped promote competition, court papers show.

Read More: LINK 

Published: .

Search for other references to "amex" on SPi News


Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.
Privacy Policy | Terms and Conditions | Contact Us