American Express says it will slash roughly 5,400 jobs, mainly in its travel business, as it seeks to cut costs and transform its operations as more of its customers shift to online portals for booking travel plans and other needs.
American Express is paying $112 million in refunds and fines to settle regulators' accusations that it charged unlawful late fees, and deceived customers to pressure them to pay off old debts or buy extra credit card services.
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