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

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 — Live Feedhttps://www.live-feeds.com/feed/federal-reserve-board-announces-enforcement-action-against-american-express-company-to-address-among-other-things-the-fiContinuously updated, source-cited coverage. Federal Reserve and OCC Fine American Express $350 Millionhttps://www.live-feeds.com/feed/federal-reserve-board-announces-enforcement-action-against-american-express-company-to-address-among-other-things-the-fihttps://www.live-feeds.com/feed/federal-reserve-board-announces-enforcement-action-against-american-express-company-to-address-among-other-things-the-fi#u116629Sun, 11 Oct 2026 15:50:53 +0000Federal regulators penalized American Express Company $350 million on Thursday, October 8, 2026, for severe deficiencies in its anti-money laundering program. The Federal Reserve Board and the Office of the Comptroller of the Currency issued enforcement actions ordering the financial institution to overhaul its compliance controls. Regulators cited the firm for failing to sufficiently detect and report certain suspicious activity related to money laundering. The joint penalty addresses longstanding weaknesses within the company's internal compliance protocols and requires a complete stren