NEW YORK – American Express has received a request from the U.S. Department of Justice for information regarding the credit card company's policies related to merchant surcharging, according to a regulatory filing Friday.
The company said it received a Civil Investigative Demand on Oct. 14 from the Justice Department's antitrust division. The department can issue CIDs to anyone it believes may have information related to an investigation, the filing said. Receipt of such a request does not mean that a formal complaint will be filed.
American Express said it intends to cooperate with the department's request for documents and other information regarding the company's policies related to merchant surcharging and its “anti-steering” policies that prohibit merchants from discriminating against the American Express card in favor of other forms of payment.
Find out how our patented technology can empower your financial institution.
Our secure two-factor online banking authentication eliminates dangerous passwords and usernames and replicates the same trusted process used to access cash at ATM's. (Insert Bank Issued Card, Enter Bank Issued PIN)
There is an R.O.I. as FI's also earn recurring revenue from each transaction conducted using our PCI 2.0 Certified PIN Entry Device. Our technology also provides a unique real-time P2P "Instant-Transfer" which allows your online banking customer to transfer cash from ANY of their bankcards to ANY other bankcard...with the Swipe of a card.
Help your bank eliminate phishing and your customers avoid identity theft by providing them with the ability to stop typing and start swiping. There is no safer way to conduct financial transactions online than by 3DES DUKPT encrypting the cardholder details, which we do at the mag-head "inside the box/outside the browser."
Justice Department investigating American Express![Reblog this post [with Zemanta]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vqmGKawiQq9w_ZdOpfKepU8uBN18mKLRF1fi0MHKOWwUTAnHRMzmlg1IdvknQHptHxMP1UrpydpmQlHP2Ays9yX9rOQAZ-gdXrXWPJtoagOKgU_3ZPB7opKxIbEZqc8on1-XoLlOJ4W_wZKvwkLpXL=s0-d)
0 comments