What happened
On October 08, 2026, the Federal Reserve Board announced an enforcement action against American Express Company. The Board said the action addresses, among other things, the firm's failure to sufficiently detect and report certain suspicious activity related to money laundering.
The press release is titled "Federal Reserve Board announces enforcement action against American Express Company to address, among other things, the firm's failure to sufficiently detect and report certain suspicious activity related to money laundering."
Findings cited by the Board
The Board also identified significant deficiencies in how American Express Company's enterprise-wide anti-money laundering program was implemented, in particular at the firm's subsidiary national bank.
The release states the identified deficiencies relate to implementation of the enterprise-wide anti-money laundering program, and it highlights implementation at the firm's subsidiary national bank.
Regulatory actions and purpose
The Office of the Comptroller of the Currency, the primary federal regulator of the firm's national bank, has issued a separate enforcement action against the bank.
The Board's action will help ensure that the firm operates in compliance with all U.S. laws and regulations.
