AmEx Agrees to Fine Over Fee.

The article reports on the agreement of two American Express Co. units to pay $500,000 in penalties after being cited by U.S. regulators for unfair practices involving convenience checks. According to the U.S. Office of Thrift Supervision and Federal Deposit Insurance Corp., the charge-card company offered the checks to customers and then it refused to honor some of them, which resulted in returned check fees and other costs. The company also agreed to reimburse customers $160 for each declined check, in addition to the penalties.