A major credit card company in the United States spent more than half a million dollars lobbying members of the federal government.
The Associated Press reports that American Express spent a total of $610,000 during the second quarter of the year, according to recently released disclosure reports from the merchant services company. The number is 3 percent lower than during the same period last year but was the same amount it had spent during the first quarter.
One of the issues that lobbyists from the credit card firm were involved in was the interchange fees charged to merchants in order to process payments. While the Federal Reserve passed measures to limit the amount that debit card companies could charge, no reforms were made when it came to fees for credit card payments.
The report released by Amex also revealed that representatives pushed members of the government on issues including cyber security, consumer financial protection and the tracking of consumers online.
Amex made other headlines when it introduced a new card in an Asian subcontinent. The firm introduced a prepaid reward card, The American Express Gift Card, for consumers in India.Back To Blog