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0000004962-12-000059.txt : 20121001 0000004962-12-000059.hdr.sgml : 20121001 20121001121329 ACCESSION NUMBER: 0000004962-12-000059 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20121001 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20121001 DATE AS OF CHANGE: 20121001 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN EXPRESS CO CENTRAL INDEX KEY: 0000004962 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 134922250 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07657 FILM NUMBER: 121119101 BUSINESS ADDRESS: STREET 1: 200 VESEY STREET STREET 2: 50TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10285 BUSINESS PHONE: 2126402000 MAIL ADDRESS: STREET 1: 200 VESEY STREET STREET 2: 50TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10285 8-K 1 wrap.htm 8-K OF AMERICAN EXPRESS COMPANY DATED OCTOBER 1, 2012 wrap.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 1, 2012

AMERICAN EXPRESS COMPANY

(Exact name of registrant as specified in its charter)


New York	1-7657	13-4922250
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification No.)

200 Vesey Street, World Financial Center
New York, New York		10285
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (212) 640-2000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure

The following information is furnished under Item 7.01 - Regulation FD Disclosure:

On October 1, 2012, American Express Company (the “Company”) announced that it has reached settlements with several regulatory agencies to resolve previously disclosed reviews of certain aspects of the Company’s U.S. consumer card practices. Similar settlements were reached with several of the Company’s subsidiaries, including American Express Centurion Bank, American Express Bank, FSB and American Express Travel Related Services Company, Inc. A copy of the press release containing this announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

EXHIBIT

99.1 American Express Company Press Release, dated October 1, 2012.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


		AMERICAN EXPRESS COMPANY (REGISTRANT)
	By:	/s/ Carol V. Schwartz
		Name: Carol V. Schwartz
		Title: Secretary

Date: October 1, 2012

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EXHIBIT INDEX

Exhibit	Description
99.1	American Express Company Press Release, dated October 1, 2012.

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EX-99.1 2 exhibit.htm PRESS RELEASE exhibit.htm

EXHIBIT 99.1

News Release News Release News Release News Release News Release News Release

Contacts:

Marina Norville, marina.h.norville@aexp.com, +1.212.640.2832

Mike O’Neill, mike.o’neill@aexp.com, +1.212.640.5951

FOR IMMEDIATE RELEASE

AMERICAN EXPRESS ANNOUNCES SETTLEMENTS WITH

BANK REGULATORS RELATED TO U.S. CARD PRACTICES

NEW YORK, October 1, 2012 – American Express Company today announced that it has reached settlements with several regulatory agencies to resolve previously disclosed reviews of certain aspects of the company’s U.S. consumer card practices.

Similar settlements were reached with several of the company’s subsidiaries, including American Express Centurion Bank; American Express Bank, FSB; and American Express Travel Related Services Company, Inc. The settlements were signed with the Federal Deposit Insurance Corporation (FDIC), Consumer Financial Protection Bureau (CFPB), Board of Governors of the Federal Reserve System (FRB), Office of Comptroller of the Currency (OCC), and Utah Department of Financial Institutions (UDFI).

As described in their consent orders, the regulators cited violations including those relating to certain aspects of debt collection practices, credit card solicitations, late fee charges, the reporting of disputes to credit bureaus and new account approval processes.

American Express has developed remediation plans for each of the cited violations and agreed to pay fines totaling $27.5 million. In accordance with the consent orders, the company, through its subsidiaries, will establish funds totaling $85 million for customer refunds. The majority of those refunds are related to debt collection practices and late fee charges. Impacted customers will be notified as soon as possible.

American Express has cooperated fully with the FDIC, CFPB, FRB, OCC, and UDFI. The company is strengthening its internal compliance processes and will continue to work closely with its regulators.

Reserves were established in previous quarters for a substantial portion of these fines and the estimated cardmember refunds. Separately, the company is continuing its own internal reviews and is also cooperating with regulators in their ongoing regulatory examination of add-on products in accordance with an industry-wide review.

About American Express

American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products and services: charge and credit cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, business travel, and corporate card

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