October 30, 2014 6:56 PM ET

Banks

Company Overview of AMEX Bank of Canada

Company Overview

Amex Bank of Canada, a federally chartered bank, issues charge cards and credits cards. The company provides personal and corporate cards. It also offers consumer financial services products and services. The company offers private banking, RSP investment savings accounts, business investment savings accounts, term loans, and other services. Amex Bank of Canada was founded in 1990 and is based in Markham, Canada. Amex Bank of Canada operates as a subsidiary of American Express Travel Related Services Company, Inc.

101 McNabb Street

Markham, ON L3R 4H8

Canada

Founded in 1990

Phone:

905-943-1197

Fax:

905-940-7670

Key Executives for AMEX Bank of Canada

President of Merchant Services for Latin America
President of Global Merchant Services - American Express
Age: 48
Vice President of Global Commercial Card and General Manager of Global Commercial Card
Vice President of Merchant Services Canada and General Manager of Merchant Services Canada
Compensation as of Fiscal Year 2014.

AMEX Bank of Canada Key Developments

Supreme Court Restores Credit-Card Ruling

Canada's top court has restored a Quebec trial judge's decision that penalizes several of the country's big banks for failing to meet provincial disclosure requirements when they charged currency-conversion fees to their credit card customers. Quebec's appeal court had overturned the judge's punitive damages against Amex Bank of Canada, Bank of Montreal, Citibank and National Bank while upholding punitive damages against Toronto-Dominion. But the Supreme Court of Canada restored the trial judge's decision that held all five banks should pay punitive damages for failing to disclose the currency conversion charges to their cardholders. The punitive damages amounted to $25 per affected cardholder in addition to the return of fees collected in the 2000-2003 period covered by the suit. The Supreme Court also upheld the appeal court's decision that four other banks that were named in the original class action - Royal Bank, CIBC, Scotiabank and Laurentian weren't subject to penalties or repayments because of the nature of their cardholder agreements. A separate Supreme Court ruling involving Desjardins found that it should return the foreign-exchange fees collected from its cardholders, but that punitive damages weren't warranted. The banks had argued that Quebec's Consumer Protection Act didn't apply to them because of the division between provincial and federal powers.

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