Amex: Card Holders Unaffected By Corporate Change

Earlier today, we reported that the Treasury Department had granted American Express's request to become a bank-holding company in order to access government financing and stave off serious and continued decline.

Unfortunately, the Amex announcement contained no language about how the move would or could affect any of its more than 70 million card holders.

So we asked Amex: How might this significant corporate reorganization affect your more than 70 million card holders?

"This announcement does not impact American Express Cardmembers," Amex spokeswoman Joanna Lamber wrote us in an e-mail. "While becoming a bank holding company changes our regulatory status, it does not impact the day to day operations of our business. Servicing of customer accounts remains business as usual."

-- Frank Ahrens

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