American Express Platinum Card (Photo via © 2018 American Express Company)

Earlier this week, TravelPulse Canada received a tip that American Express would close its travel representative network division at the end of this year. Travel Weekly has now confirmed the report, citing an email from the executive team at Cruise Planners to its travel advisors.

The publication states that Cruise Planners confirmed the email was accurate and meant to inform its advisors of the coming change. American Express did not immediately return Travel Weekly’s request for comment.

According to Cruise Planners, which has been an AmEx affiliate for 18 years, the American Express Representative Network program will end on December 31. The tip to TravelPulse Canada came out of an Avoya Travel meeting. Along with Cruise Planners, Avoya is one of about 30 large travel agencies affiliated with the AmEx rep network.

“American Express has always been, first and foremost, a financial institution with their primary business being a credit card transactions company, as most people know American Express to be,” Cruise Planners wrote in its email to advisors.

“But being a financial institution in today’s cyber world comes with many stringent regulatory guidelines, which frankly presents challenges with the Rep Networks’ continued relationship with them.”

Cruise Planners said its travel advisors will still have access to some benefits for clients with qualifying AmEx cards, like the Fine Hotels & Resorts program and Cruise Privileges Plus.

“As this news just broke, we are sure you have many questions, as do we. … We will communicate more details as soon as we can, and can assure you we will leave no stone unturned,” Cruise Planners wrote.