A notion is afoot that the 1990s will be to saving what the '80s were to debt. Good. We need to save more. But how?
There are the traditional payroll-savings plans, and they make lots of sense. But in May, American Express quietly began offering something new: Membership Savings. Under this plan, Amex bills you monthly for whatever amount you'd like to set aside, from $50 to $5,000, then deposits that money in a financial institution it owns in Utah, federally insured up to $100,000.
Perhaps to avoid riling the banks that sell its traveler's checks, Amex is planning to run...