Amex Fights To Discourage Defectors

In mid-April, executives at U-Haul International Inc., the Reno (Nev.) vehicle rental company, read about a group of Boston restaurants that staged a modern-day version of the Boston Tea Party. The eateries threatened to boycott American Express Co. cards and complained that the merchant fees it collects every time a diner charges a meal were too high. AmEx responded by shaving off half a percentage point from its 3.25% fee to larger restaurants that file their charge records electronically.

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