Fx firm salespeople misrepresented Forex pricing to clients – ForexLive

American Specific is sacking personnel and reimbursing funds to shoppers right after finding  salespeople misrepresented pricing to clients.

• terminated ten personnel in the foreign-trade international payments office
• retraining 28 others
• reimbursing shoppers

By means of a Wall Road Journal report:

• the Forex unit experienced routinely increased forex-conversion fees with out notifying clients
• purpose ws to increase income
• US federal businesses, which includes the Justice Office, the Federal Reserve and the Shopper Money Safety Bureau, have because been probing AmEx’s foreign-trade pricing methods.

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