The Fed slapped American Express with an enforcement action over AML failures — insufficient detection and reporting of suspicious activity, plus significant deficiencies in the enterprise-wide progra

What happened: The Federal Reserve Board announced an enforcement action against American Express Company over its failure to sufficiently detect and report certain suspicious activity related to money laundering. Key numbers: Announced October 08, 2026, for release at 4:30 p.m. EDT. Why it matters: The Board also found significant deficiencies in how the firm's enterprise-wide anti-money laundering program was implemented, particularly at its subsidiary national bank, which faces a separate action from the Office of the Comptroller of the Currency.

Fed enforcement action against American Express for money laundering detection failures.

Fed enforcement action against American Express for money laundering detection failures. — impact context not separately stored; see What changed.