American Express will be refunding $85 million to some 250,000 customers because of violations of consumer protection laws, the Consumer Financial Protection Bureau (CFPB) announced Monday (October 1st). Amex subsidiaries misrepresented the perks customers would get if they enrolled in a credit card program, charged certain consumers higher late fees than were legally allowed, misled consumers about debt collection and committed other violations. In addition to the refunds, American Express will also pay penalties of $27.5 million to the federal government. The CFPB was created by the 2010 Dodd-Frank financial law and is charged with overseeing credit cards, mortgage loans and other consumer financial products. In other action since the agency opened in July 2011, Discover Bank agreed to pay $214 million for deceptive marketing and Capital One Financial Corp. was fined $210 million on similar charges.