American Express stated in an SEC filing that the fine will not impact its fiscal year 2026 guidance and that the consent orders do not impose an asset cap. The company expects that costs associated with the orders will not affect its 2027 guidance. The OCC attributed the lapses to systemic failures in risk monitoring, staffing, internal controls and employee training.
Wednesday, October 21, 2026
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OCC Fines American Express National Bank $350 Million Over Money Laundering Gaps
Business12 days ago
The Federal Reserve and the Office of the Comptroller of the Currency penalized American Express for anti-money laundering failures that allowed approximately $13 billion in suspicious transactions to go unreported over 10 years. The OCC assessed a $350 million civil penalty and issued a cease-and-desist order against American Express National Bank for failing to maintain a Bank Secrecy Act compliance program, while the Fed issued an enforcement action against the wider enterprise.
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