American Express has agreed to pay $230 million to settle charges in two cases brought by federal officials.The financial services firm will pay $138 m

American Express has agreed to pay more than $138 million to resolve a wire fraud investigation related to its sales and marketing practices.

Under a nonprosecution agreement the company is to pay a $77.6 million fine and forfeit $60.7 million for the revenue that could have been owed from its Payroll Rewards and Premium Wire programs.

American Express agrees to pay $138 million to settle allegations of misleading tax advice, prompting reforms in its sales practices.

The New York-based financial giant provided inaccurate tax advice to customers and potential customers on wire products mainly aimed at small and mid-size businesses, New York tax officials said. View

The American Express settlement follows recent agreements by Mastercard and Block to settle claims from prosecutors or regulators.

The American Institute of CPAs (AICPA) has expressed strong support for new bipartisan legislation that would empower the Internal Revenue Service (IRS) to extend federal tax deadlines following state-declared disasters.

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.

World Bank says economy is growing steadily

American Express said it will pay $230 million to resolve federal investigations into deceptive sales tactics and recordkeeping violations involving small business credit card and wire transfer products.

The Justice Department said the company misrepresented its credit card rewards and fees and made false claims about the tax benefits of its wire transfer products.

The average rate on a 30-year mortgage in the U.S. ticked up this week to slightly above 7%, the highest level in eight months.