Lawyer Central: American Express Now a Commercial Bank

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Home >> Injury Central >> Commercial Bankruptcy Resources >> AMERICAN EXPRESS NOW A COMMERCIAL BANK

AMERICAN EXPRESS NOW A COMMERCIAL BANK

2008-11-12 10:02:08.527

The Federal Reserve granted American Express permission to become a commercial bank. It allows American Express to accept deposits and permanently access low-cost financing from the fed. American Express has been struggling to stay afloat because its customers haven't been able to pay their bills.

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