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Market
How many similar settlements will occur after American Express case by 2025?
1
Resolution / Starting Odds
None • 25%
1-2 • 25%
3-5 • 25%
More than 5 • 25%
Publicly available legal filings and financial news reports
Story
American Express to Pay $230 Million to Settle DOJ Allegations of Deceptive Marketing and Wire Fraud
Jan 16, 2025, 06:56 PM
American Express has agreed to pay approximately $230 million to resolve allegations of deceptive marketing and a federal criminal wire fraud investigation. The settlement includes more than $138 million as part of a non-prosecution agreement with federal prosecutors in Brooklyn, New York, related to claims that the company provided inaccurate tax advice for its wire products, Payroll Rewards and Premium Wire. Additionally, American Express will pay $108.7 million to settle claims by the Department of Justice's Civil Division that it deceptively marketed credit cards to small businesses. The company stated that it will pay the total amount to resolve these matters, following similar settlements by other large companies such as Mastercard.
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Similar markets
Yes • 50%
No • 50%
0 additional lawsuits • 25%
3 or more additional lawsuits • 25%
2 additional lawsuits • 25%
1 additional lawsuit • 25%
Some issue statements • 25%
None issue statements • 25%
Issue joint statement • 25%
All issue statements • 25%
6-10 players • 25%
More than 10 players • 25%
3-5 players • 25%
0-2 players • 25%
No • 50%
Yes • 50%
More than $500M • 25%
$300M to $500M • 25%
$100M to $300M • 25%
Less than $100M • 25%
No • 50%
Yes • 50%
Yes • 50%
No • 50%
CFPB wins • 25%
Banks win • 25%
Settlement reached • 25%
Case ongoing • 25%
