Option consommateurs and Amex Bank of Canada (“AMEX”) have reached an agreement in three class actions and one motion for leave to bring a class action filed against AMEX and several other financial institutions.
The class actions cover the following practices related to AMEX credit cards:
1. The absence of a complete 21-day grace period;
2. The charging of credit fees in the absence of a 21-day grace period;
3. The charging of over-limit fees; and
4. The charging of cash advance fees.