AmEx Falls as Credit-Card Fees May Be ‘Next Target’
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American Express Co. declined the most in the Dow Jones Industrial Average after Stifel Nicolaus & Co. said proposed federal caps on debit-card fees may be followed by similar cuts for credit cards.
The shares dropped $1.51, or 3.4 percent, the most in more than two months, to $42.50 at 4:15 p.m. in New York Stock Exchange composite trading. AmEx has gained 4.9 percent this year.