American Express Falls Amid EU’s Proposed Cap On Interchange Fees

Leading card-issuer American Express Company (NYSE:AXP) fell the most in a year amid the European Commission’s proposed move to cap interchange fees. Morgan Stanley (NYSE:MS) and Credit Suisse analysts expressed concern about the profitability of the biggest U.S. credit-card issuer by customer purchases, following the European Commission’s proposed capping of the fees that debit card and credit card networks could charge retailers in the European Union. European Commission’s Proposition The European Commission proposed limits on the fees that retailers in the European Union could be charged for debit card transactions to 0.2 percent per transaction, while the ceiling for credit…