Credit card company American Express has agreed to pay $108.7 million to settle allegations that it engaged in deceptive marketing practices, the U.S. Justice Department said on Thursday.

The Justice Department said the company misrepresented its credit card rewards and fees and made false claims about the tax benefits of its wire transfer products.

The American Express settlement follows recent agreements by Mastercard and Block to settle claims from prosecutors or regulators.

American Express has agreed to pay nearly $109 million in fines related to deceptive marketing and false account allegations, the Justice Department announced Thursday.

Under a nonprosecution agreement the company is to pay a $77.6 million fine and forfeit $60.7 million for the revenue that could have been owed from its Payroll Rewards and Premium Wire programs.

American Express has agreed to pay more than $138 million to resolve a wire fraud investigation related to its sales and marketing practices.

The New York-based financial giant provided inaccurate tax advice to customers and potential customers on wire products mainly aimed at small and mid-size businesses, New York tax officials said. View