American Express has agreed to pay more than $138 million to resolve a wire fraud investigation related to its sales and marketing practices, federal authorities announced Thursday.
The New York-based financial giant provided inaccurate tax advice to customers and potential customers on wire products primary marketed at small and mid-size businesses, the U.S. Attorney for the Eastern District of New York's office said. Customers were told, for example, that the company's fees were tax-deductible as a business expense.
