Fed announces enforcement action against American Express over money-laundering reporting failures; OCC levies $350M penalty

The Federal Reserve Board announced an enforcement action against American Express Company over its failure to sufficiently detect and report suspicious activity related to money laundering. The OCC levied a $350 million penalty and consent orders, which American Express said do not affect its FY2026 or 2027 guidance and impose no asset cap.

Detected & updated continuously · Source: Nebula