American Express To Raise Fees For Late Payments: WSJ

The U.S. government is raising the allowable limit on some credit-card late fees, and American Express Co. is the first issuer to act on it, The Wall Street Journal reported Friday. From January, the company will charge customers that are late on more than one payment in a six-month period a fee of up to $38, $1 more than it charged previously. That places the issuer at the maximum allowed under the new guidelines from the Consumer Financial Protection Bureau. American Express shares were not yet active in premarket trade, but are up 4.8% in the year so far, while the S&P 500 has gained 7.9%.