Fed orders action against American Express over AML lapses

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

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.

Fed orders action against American Express over AML lapses

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

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.

Respondents

American Express Company is the firm named in the Board’s action.

The Board said the OCC’s separate action covers the firm’s subsidiary national bank.

Effective

The Board announced the action on October 8, 2026, at 4:30 p.m. EDT.

Penalty

The release does not state a monetary penalty.