Posted on 04/28/2022 5:46:42 AM PDT by Mr. Mojo
Corporations typically focus on profits and not politics, but that isn’t the case for American Express. The 172-year-old credit card company is focused on pushing a political agenda while ignoring its dubious corporate track record.
The company has adopted an “Anti-Racism Initiative” designed to have “privileged” employees defer to “marginalized groups.” In training sessions, white employees were told to “identify the privileges or advantages you have.” Amex brought in Khalil Muhammad, who told Amex employees during training sessions that they should charge black customers lower premiums than white customers.
Multiple Amex employees have also alleged that the company has engaged in “reverse discrimination” and consistently wouldn’t promote white employees because they weren’t minorities. One employee was even told by a supervisor, “It would be advantageous and important for me to note that I am a minority when I apply for internal promotions.”
CEO Stephen Squeri has been behind many of these initiatives, launching a 2020 effort that includes spending $1 billion to promote “Racial, Ethnic and Gender Equity.” Squeri has also spoken against climate change and participated in the corporate pile-on against Georgia’s election integrity legislation. Amex’s very public progressive agenda belies a pattern of corporate misconduct records indicate.
Multiple federal agencies, including the Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation, have investigated Amex for certain sales practices, including issuing phantom credit cards. Additionally, Amex had to pay $112 million in fines because it deceptively strong-armed its customers into paying illegal late fees.
(Excerpt) Read more at breitbart.com ...
It can’t be raciss because its a private company and they can have whatever policies they want.
Are y’all slow? Saw this coming a few years ago, I finally dumped them last year. Let them keep my rewards dollars. The final straw was they went woke against gun manufacturers.
It’s a shame I no longer have an amex card so I can cancel it.
I welcome this experiment by AMEX. Let’s see where it goes. If they go belly up, wont hurt me and other credit cards get a lesson. Might even end up in a Jim Collins book.
Discover was also a fast jumped on the BLM wagon. Banks and financial companies are usually run out of the north-east and are incredibly leftwing.
it amazes me how many companies have so much money and so many clients that they desire to get rid of both.
Called Amex four times about an issue yesterday. The first three folks who assisted me unsuccessfully were named Tashikiami or whatever. Finally got a gentleman named Mark who somewhat handled my problem. I cancelled the card.
The political activities of Am. Express has been coming for years, I dropped my AMX membership over one year ago.
I recently dumped amex.
Just like the article said, I would electronically transfer my payment before the due date, they would take 4 or 5 days to “process” it, and then hit me with a late fee.
This, on top of raising the yearly membership fee and reducing the rewards program.
All of this happened within a years time.
Screw ‘em
Retailers hate AMEX as they charge the most to process the transaction.
In Africa, if you try to pay for anything with an AMX card, you may get your lights punched out. I understand AMX charges over 20% surcharge to companies accepting their cards.
” Amex brought in Khalil Muhammad, who told Amex employees during training sessions that they should charge black customers lower premiums than white customers.”
This sounds like a “big” deal. But lets look at the numbers: What is the black population in the country? 13% or so?
That’s 42 million. 12% of Americans hold a card. That’s 5.34M African American card holders based on averages.
I would suggest the number is a lot lower than that based on education levels, workforce composition, overall income levels by race, business ownership, etc. I am guessing there are maybe 2 Million black AMEX customers in the US. This is less than 5% of their total holders—and I would guess its a much, much smaller portion of their revenue.
In the end, AMEX could give black companies and black users free cards with little or no fees....and it wouldn’t make a dent in their earnings.
In short...this is all silly window dressing; virtue signaling.
Wish I had an American Express card... so I could cancel it.
I got an AA AE rewards card during the financial crisis. It came with 20K free miles and no yearly fee since I already had AA MC card. Sometime during the plandemic my AE card was switched to a MC card. I never noticed the switch until a few months ago.
My response, as a trainee, to that demand would be to look innocent and meekly ask, "What makes you think I'm White?"
If I were feeling a little more combative, I might shout, "Are you judging me based upon your perception of my ethnic origin?! How dare you make assumptions about my racial background!"
And if I was feeling really ornery, I'd whisper, "I was raised by my mother and father in an intact family."
Regards,
This sounds like a "big "deal. But lets look at the numbers: What is the black population in the country? 13% or so?
That’s 42 million. 12% of Americans hold a card. That’s 5.34M African American card holders based on averages.
I would suggest the number is a lot lower than that based on education levels, workforce composition, overall income levels by race, business ownership, etc. I am guessing there are maybe 2 Million black AMEX customers in the US. This is less than 5% of their total holders—and I would guess its a much, much smaller portion of their revenue.
In the end, AMEX could give black companies and black users free cards with little or no fees....and it wouldn’t make a dent in their earnings.
When Mr. Muhammad suggested charging Black customers lower premiums than White customers, I think what he REALLY meant was that the premiums on White customers should be JACKED UP.
Regards,
Same here.
IT is reverse discrimination.
All card holders should pay the same.
AmEx sucks. I got rid of my AmEx Gold Card, 30yrs ago, since it’s easily overshadowed by VISA, everywhere.
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