Prepaid Cards May Lack Protections of Checking Accounts Reloadable prepaid cards don't have to carry federal deposit insurance, as checking accounts do, says a new report from a project of the Pew Charitable Trusts. Cardholders can use them for direct … Continue reading
Yesterday, American Express announced it would be slashing 5,400 jobs, primarily from its travel services business. This amounts to 8.5 percent of its 63,500 employees. American Express is the number one credit card issuer in terms of purchases. But AmEx … Continue reading
A shareholder of American Express is suing the company's Board of Directors and Chairman Kenneth Chenault, claiming they did not properly oversee the practices that led to a recent $112.5 million settlement with consumers and four federal agencies. Bob Lankford, … Continue reading
American Express cardholders in the United States spent 8 percent more on their credit cards in the third quarter versus a year ago, according to the company's quarterly reports. Globally, American Express showed a 6 percent increase in card purchases in the third … Continue reading