The old saying that honesty is the best policy typically is viewed as a hollow cliché rather than words to live by.
However, when American Express decided to take an open, honest approach with the Consumer Financial Protection Bureau regarding discriminatory actions by two of its subsidiaries, the effort did not go unnoticed.
Take a peek at how the company’s decision to come forward and begin redressing harmed consumers – before being ordered to do – was reflected in the bureau’s consent order, and why the company is disputing the charges of discrimination.