- The Federal Reserve Board announced an enforcement action against American Express Company on October 8, 2026.
- The action addresses the firm's failure to sufficiently detect and report certain suspicious activity related to money laundering.
- The Board identified significant deficiencies in how the enterprise-wide anti-money laundering program was implemented, particularly at the subsidiary national bank.
- The Office of the Comptroller of the Currency, the primary federal regulator of the national bank, issued a separate enforcement action against the bank.
Quotes
“The Board also identified significant deficiencies in how American Express Company's enterprise-wide anti-money laundering program was implemented”
“The Board's action will help ensure that the firm operates in compliance with all U.S. laws and regulations.”