The Federal Reserve Board announced on October 8, 2026 an 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.
The Board also 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, the national bank’s primary federal regulator, issued a separate enforcement action against the bank.
The Board said its action will help ensure the firm operates in compliance with all U.S. laws and regulations. The announcement did not state a dollar penalty in the release text.