AmEx Falls After Report of FBI Probe on Foreign-Exchange Pricing

American Express Co. declined after a report that the FBI is investigating pricing practices at its foreign-exchange operations.

Shares of the company dropped 1.3 percent after the Wall Street Journal said the Federal Bureau of Investigation began an inquiry last month. The probe is examining whether customers were misled as the credit-card lender sought to win more business handling international payments, the newspaper said, citing unidentified people with knowledge of the probe.

An AmEx spokeswoman declined to comment, as did the FBI.

AmEx said in July that it was commissioning a third-party review of its foreign-exchange business and that ...