American Express agrees to pay more than $138M to resolve investigation into sales and marketing

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 that the New York-based financial giant provided inaccurate tax advice to customers and potential customers on wire products primary marketed at small and mid-size businesses. Harry Chavis, a special agent in charge at the Internal Revenue Service, said the company misled their customers by touting tax breaks that simply didn’t exist. American Express said it cooperated with investigators and took actions action to address issues years earlier.