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.
Link (Journal is gated)
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