REGULATION · US
American Express fined $350M for anti-money laundering program failures
Federal Reserve and OCC penalized Amex $350M for significant deficiencies in its enterprise-wide anti-money laundering implementation, particularly at the firm's subsidiary national bank.
WHY IT MATTERS
Signals OCC/Fed enforcement focus on AML controls at large payment processors; compliance teams must audit end-to-end program ownership, especially at bank subsidiaries.
Source: Office of the Comptroller of the Currency · 2026-10-08