American Express to pay $230 million to settle DOJ fraud probe, deceptive marketing claim
1. American Express will pay $230 million to resolve fraud allegations. 2. Settlement includes $138 million non-prosecution agreement over incorrect tax advice. 3. Additional $108.7 million to settle deceptive marketing claims for small business credit cards. 4. Settlement reflects broader scrutiny on financial marketing practices. 5. Similar settlements seen with Mastercard and Block may indicate industry-wide issues.