Federal Reserve takes enforcement action against American Express over AML failures
The Federal Reserve Board announced an enforcement action against American Express Company on October 8, 2026, over failures to detect and report suspicious activity tied to money laundering and deficiencies in how its enterprise-wide AML program was implemented. The OCC issued a separate action against the firm's national bank. This briefing covers what the release states and what it leaves unresolved.
- The Federal Reserve Board announced an enforcement action against American Express Company on October 8, 2026.
- The action addresses, among other things, the firm's failure to sufficiently detect and report certain suspicious activity related to money laundering.
- The Board identified significant deficiencies in how the firm's enterprise-wide anti-money laundering program was implemented, in particular at its subsidiary national bank.
- The Office of the Comptroller of the Currency issued a separate enforcement action against the national bank.
- The Board stated its action will help ensure the firm operates in compliance with all U.S. laws and regulations.