American Express Falls After Report of FBI Investigation

The video discusses allegations against American Express for misrepresenting forex pricing to win business, as reported by the Wall Street Journal. The FBI and other authorities are investigating, while Amex has launched an internal review. Despite the allegations, Amex's stock has shown resilience, with a minor pullback. The impact on revenue remains unclear, but the focus is on small and mid-sized businesses. The video also highlights the competitive fintech landscape, with companies like Transferwise challenging traditional practices.

What was the main allegation against American Express's Foreign Exchange International Payments Department?

• Overcharging clients for services

• Misrepresenting pricing to win business

• Failing to deliver promised services

• Engaging in insider trading

How did American Express's stock perform in the past year before the recent pullback?

• It increased by 24%

• It remained stable

• It decreased by 24%

• It decreased by 10%

Which category of American Express's business is primarily affected by the foreign exchange investigation?

• Travel services

• Consumer credit cards

• Insurance services

• Global merchant services

What type of businesses does American Express's foreign exchange service primarily cater to?

• Large corporations

• Small and mid-sized businesses

• Individual consumers

• Non-profit organizations

Which fintech company is mentioned as a competitor in the foreign exchange market?

• PayPal

• Stripe

• Square

• Transferwise