Federal Reserve Board takes an enforcement action against American Express over money laundering controls

23 October 2026

The Federal Reserve Board has announced an enforcement action against American Express Company. 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 the way the firm's enterprise-wide anti-money laundering programme was implemented, particularly at its subsidiary national bank. The Board said the action will help ensure that the firm operates in compliance with all United States laws and regulations. The Office of the Comptroller of the Currency, the primary federal regulator of the national bank, issued a separate enforcement action against the bank.