Amex to Get $3.4B of Treasury Money

American Express Co. said last week that it expects to receive about $3.4 billion through the Treasury Department's Capital Purchase Program.

The Federal Reserve Board approved the New York card issuer's application to become a bank holding company last month.

Last week Amex said a government infusion would have increased its Tier 1 capital ratio at Sept. 30 by 310 basis points, to 11.8%.

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