AmEx to face antitrust lawsuit

|By:, SA News Editor

AmEx (AXP) will go to trial Monday, facing an antitrust lawsuit from the U.S. government. The latter is claiming AmEx limits competition, hurting credit card providers that charge lower processing fees.

According to the government, American Express bans its millions of merchants from offering incentives for customers to use less-expensive credit cards or cash when making purchases. However, AmEx claims the rules guard customers from price discrimination and have assisted in promoting competition.