American Express Co. defended itsprices for currency conversions after a report said employeesboosted rates for some business customers without notifyingthem.“We have training, control, and compliance oversight andbelieve that our transactions are completed and reported in a fairand transparent manner at the rates which the client hasauthorized,” Marina Norville, a spokeswoman for the company, saidin an emailed statement.Shares of American Express dropped Mondayafter the Wall Street Journal said the practice had been going onfor more than a decade and affected mostly small and midsizebusinesses. The FX International Payments business accounts forless than half of one percentage point of overall revenue, Norvillesaid in the statement.American Express fell 1 percent to 102.85 inearly New York trading at 8:04 a.m.Current and former employeestold the newspaper that AmEx's commissions-driven cultureencouraged the practice. Customers were recruited with low initialrates, but weren't informed that those prices were subject tochange without notice, according to the Journal.The company beganto scale back on the practice after media reports of a similarstrategy at Wells Fargo & Co., according to thenewspaper.

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