NEW YORK (AP) — American Express has agreed to pay at least $75.7 million to end an investigation by regulators into some discontinued card products.

The Federal Deposit Insurance Corporation said Tuesday that American Express led consumers to believe that an account protection product would work for up to two years when the benefits usually lasted no more than three months, and it didn't properly explain the enrollment process for a product intended to protect against identity theft. It says most consumers didn't complete the enrollment process but were billed anyway.

The settlement ends inquiries by the FDIC, the Consumer Financial Protection Bureau, and the Office of Comptroller of the Currency.

The New York-based company said Tuesday that it agreed to pay $16.2 million in fines and repay at least $59.5 million to customers.