Lawyer Central: American Express To Become Commercial Bank

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Home >> Injury Central >> Commercial Bankruptcy Resources >> AMERICAN EXPRESS TO BECOME COMMERCIAL BANK

AMERICAN EXPRESS TO BECOME COMMERCIAL BANK

2008-11-12 10:02:08.497

The Federal Reserve approved an application Monday by American Express to become a bank holding company. The change will allow the credit card giant to become a commercial bank. The decision opens the way for American Express to accept deposits and permanently access low-cost financing from the Fed.

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