"Important changes" to my American Express cardmember agreement. [View all]

[TNDemo]

The last page of my last statement says this: "You agree that we will obtain credit reports about you, investigate your ability to pay, and obtain information about you from other sources. And you agree that we will use such information for any purposes, subject to applicable law. You agree that we will give information about the account to credit reporting agencies. We will tell a credit reporting agency if you fail to comply with any term of this agreement. This may have a negative impact on your credit report."

What is this code for? I am wondering how different this is from what has been standard to this point. It makes my want to close the account but maybe they are all this evil.