Federal Reserve Approves American Express as Bank Holding Co.
The Federal Reserve has announced that it has approved "the applications and notices under sections 3 and 4 of the Bank Holding Company Act by American Express Company and American Express Travel Related Services Company, Inc., both of New York, New York, to become bank holding companies on conversion of American Express Centurion Bank, Salt Lake City, Utah, to a bank, and to retain certain nonbanking subsidiaries, including American Express Bank, FSB, Salt Lake City, Utah."
Add your comment... (note that all comments are reviewed before they're published)