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Charge cards let holders use them to make purchases, then at the end of the statement period, they are required to pay the balance, which is typically done on a monthly basis. There is no revolving credit (a balance can’t be carried from month to …

Today the government released results from a stress test of the 19 largest banking institutions in the U.S. The majority of the banks have already received money from the $700 billion bailout plan that Congress passed last year. The stress test was meant to find …

The U.S. Federal Reserve said American Express could become a bank holding company. Like Morgan Stanley and Goldman Sachs before, now American Express may issue government guaranteed bonds through June 2012.
The companies can also apply to receive aid from the $700 billion bailout rescue package …

American Express is also going through some hard times, in an effort to cut $1.8 billion in 2009, it is laying off 7,000 workers, about the equivalent of 10% of its workforce. After four straight quarters of losses, not only is Amex going to …