“The possibilities are endless BLUE CASH from American Express Get cash back on virtually every dollar” an advertisement on American Express website that is trying to get consumers to apply for a card. Other card companies have started that promotion as well to get more cardholders. This cause merchant to pay a fee for every time a consumer makes a purchase with their credit card. Merchants were blocked from raising prices or giving discount. The lawsuit is for anti-competitive practices of which limit merchants from giving discount and etc. Other credit card companies was filed and agreed to a agreement but American Express was the only one fight back.
I was drawn to this because my mother is a cardholder and so as I. The promotion have saved us quite a lot and I feel terrible knowing that merchants are being cheated out. Credit card companies are the ones that have merchants lose employments and limit them on the prices they have to put to keep consumers coming. Since other companies have accepted the lawsuit and agreed to the charges, I wonder if they are going to take the promotion down and will American Express do the same thing if they lose. Because this does help the consumers a lot and as a cardholder I feel there should be another way to deal with it.
How this relate to corporate social responsibility is that credit card companies are making business harder to earn profits and such from consumers and with the fee that they charge, business are limited to how they can promote their product. This draws a line for companies to follow their rules which doesn’t let room for them to make their profit mark.
http://money.cnn.com/2010/10/04/news/companies/american_express_justice/index.htm
Sounds like you're thinking about how corporations can be socially responsible and ethical in their dealing with their customers. Ethics is definitely an important part of any company!
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