American Express has agreed to pay $230 million to settle charges in two cases brought by federal officials.The financial services firm will pay $138 m

American Express has agreed to pay more than $138 million to resolve a wire fraud investigation related to its sales and marketing practices.

The New York-based financial giant provided inaccurate tax advice to customers and potential customers on wire products mainly aimed at small and mid-size businesses, New York tax officials said. View

American Express agrees to pay $138 million to settle allegations of misleading tax advice, prompting reforms in its sales practices.

The American Express settlement follows recent agreements by Mastercard and Block to settle claims from prosecutors or regulators.

American Express said it will pay $230 million to resolve federal investigations into deceptive sales tactics and recordkeeping violations involving small business credit card and wire transfer products.

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.