An office colleague told me that she received a letter from American Express offering her cash to close her account. I told her it must be a scam, but she was insistent. So this morning she shows me the letter.

In summary, it says if she logs onto the AMEX website and enters this code for her account, then the account is closed and they will mail her a $300 prepaid AMEX card.

I'm sort of stunned, but I think it represents a new low for a TARP-funded company.