American Express will pay approximately $230 million to resolve a Department of Justice criminal wire fraud investigation and settle civil allegations of deceptive marketing. The banking giant signed a non-prosecution agreement with New York federal prosecutors.

The Justice Department said the company misrepresented its credit card rewards and fees and made false claims about the tax benefits of its wire transfer products.

American Express has agreed to pay $230 million to settle a federal probe into deceptive marketing practices and civil fraud allegations, the Department of Justice (DOJ) announced Thursday. Under