American Express Co. (NYSE:AXP): Current price $74.53
U.S. officials announced Monday that American Express has reached a resolution with the Treasury Department concerning more than 14,000 tickets that were issued for travel between Cuba and countries outside the country. American Express Travel Related Services Inc. will shell out $5.2 million to settle potential civil liability for apparent federal violations. The Treasury Department discovered that overseas branch offices and subsidiaries of American Express issued some 14,487 tickets for travel to and from Cuba between December 2005 and November 2011, which apparently violated the Cuban Assets Control Regulations. The rules issued 50 years ago disallow financial transactions by banking institutions under United States jurisdiction in which Cuba or its citizens have an interest, Yahoo Finance reports.