The Fed action on American Express over AML gaps

• The Board said American Express failed to sufficiently detect and report certain suspicious activity related to money laundering.
• It also identified significant deficiencies in the firm’s enterprise-wide anti-money laundering program.
• The Office of the Comptroller of the Currency issued a separate enforcement action against the firm’s subsidiary national bank.

Action

The Federal Reserve Board on Thursday announced an enforcement action against American Express Company. It said the action addresses, among other things, the firm’s failure to sufficiently detect and report certain suspicious activity related to money laundering.

The Fed action on American Express over AML gaps

The Board also identified significant deficiencies in how American Express Company’s enterprise-wide anti-money laundering program was implemented. It said the issues were particularly acute at the firm’s subsidiary national bank.

Respondents

American Express Company is the firm named in the action. The Board said the Office of the Comptroller of the Currency, the primary federal regulator of the firm’s national bank, issued a separate enforcement action against the bank.

Effective

The source does not give a separate effective date for the action. It was announced on 8 October 2026 at 4:30 p.m. EDT.

Penalty

The Board did not announce a monetary penalty in the release.