The Federal Bureau of Investigation is scrutinizing the foreign-exchange pricing patterns of American Express, people familiar with the matter told The Wall Street Journal.
The early-stage investigation concerns whether the department that runs American Express' foreign-exchange international payments misrepresented pricing to clients to get their business, according to the sources.
In August, WSJ reported the department enticed business clients with low currency-conversion rate offers, and later hiked the rates without warning.
The Office of the Comptroller of the Currency is also probing the matter, according to WSJ.
More articles on business:
CBS board reportedly in talks to oust CEO Les Moonves
Citigroup loses CFO, 2 top execs
Amazon reaches $1T valuation