Amex Shares Sink On End Of Costco Exclusivity

Costco and American Express will end their exclusive merchant agreement, the credit card issuer announced Thursday morning. The move comes less than six months after Costco's Canadian arm made a similar decision, dropping its Amex partnership in favor of one with Mastercard and Capital One, and rumors have been swirling ever since that Costco would make a similar decision in the U.S. And now that it is official that the partnership will indeed end, shares of Amex are sinking more than 5% on the news.
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