AmEx Courts Merchants to Avoid ‘Fee Party’ Reprise
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American Express Co., the biggest credit-card issuer by purchases, aims to win over retailers as it fights U.S. antitrust claims and seeks to avoid a repeat of a 1991 merchant revolt known as the “Boston Fee Party.”
The lender, which is scheduled to report third-quarter results after markets close today, has “accelerated our calls” to retailers after the U.S. Justice Department filed a lawsuit against the company earlier this month, said Bill Glenn, president of global merchant services at New York-based AmEx.