Company Overview of American Express Centurion Bank
American Express Centurion Bank offers charge and credit cards in the United States. It issues personal and small business charge and credit, corporate cards, and prepaid cards. The company was formerly known as American Express Deposit Corporation and changed its name to American Express Centurion Bank in July 1996. The company was incorporated in 1985 and is based in Salt Lake City, Utah. American Express Centurion Bank operates as a subsidiary of American Express Travel Related Services Company, Inc.
4315 South 2700 West
Salt Lake City, UT 84184
Founded in 1985
Key Executives for American Express Centurion Bank
President, Chief Operating Officer and Director
Chief Financial Officer, Principal Accounting Officer and Treasurer
Compensation as of Fiscal Year 2015.
American Express Centurion Bank Key Developments
American Express Announces Certain of its Subsidiaries Settlements with Bank Regulators Related to Credit Card Add-on Products
Dec 24 13
American Express Company announced that certain of its subsidiaries have reached settlements with several regulatory agencies to resolve previously disclosed regulatory reviews of marketing and billing practices related to several products that have been discontinued. The settlements involve American Express Travel Related Services Company, Inc., American Express Centurion Bank and American Express Bank, FSB. Consent orders were signed with the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), and the Office of Comptroller of the Currency (OCC). American Express has cooperated fully with the CFPB, FDIC and OCC. The American Express entities will pay fines totaling $16.2 million and agreed to provide at least $59.5 million in customer remediation. Most of the costs associated with the settlements have been provided for in prior quarters, and most of the remediation has already been provided to customers. The credit card add-on products cited in the consent orders are: Identity Protect/Identity Protect Premium: products designed to help consumers detect and prevent identity theft; Account Protector: a product designed to help pay the outstanding balance on a Card Member's account in certain circumstances, such as job loss or hospitalization; Lost Wallet Protector marketed in Puerto Rico: a product designed to help consumers cancel and replace lost items such as credit, debit and ATM cards. Marketing of the products included in these settlements was discontinued more than a year ago.
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