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Keeping an eye on what your credit card company is charging you for is one way that you can make sure you are being as financially responsible as possible. While some charges are permissible and must be paid, other charges may not be considered fair and might not have to be paid. Miami residents might like to know about refunds some American Express customers will be receiving as part of a settlement for unfair practices.

Refunds totaling $59.5 million will be made to American Express customers as part of a settlement ordered by the Consumer Financial Protection Bureau. The bureau ordered this settlement as part of a crackdown against companies charging unfair fees. In addition to the refunds, the credit card company will also have to pay a penalty to the bureau in the amount of $9.6 million.

One of the unfair practices cited in the case against American Express was the identity fraud protection service offered on the credit cards. While customers were paying for the fees to have this service, some never authorized the credit card company to monitor their credit reports.

American Express also had a problem with the service that claimed to wipe out payments if the cardholder became disabled or lost a job. Only 2.5 percent of the card balance was covered. The total cap for the service was $500.

American Express says the problems have been corrected, and internal reviews are being conducted. Refunds will be issued to current account holders, while former account holders will get a check.

If you feel like you are being harassed by a debt collector for fees or penalties you don’t think you owe, contacting an experienced Florida bankruptcy attorney can help you explore options to stop the harassment.

Source: New York Times, “American Express to Pay $75 Million Over Credit-Card Practices” Rachel Abrams, Dec. 24, 2013