OCC fines American Express National Bank $350m over anti-money-laundering failures
The OCC imposed a $350m penalty on American Express National Bank over failures the regulator identified in its anti-money-laundering program.
The consent order says monitoring failures affected about $13bn of suspected trade-based money-laundering activity processed from June 2014 through May 2025. The bank consented without admitting or denying the findings.
The penalty is due on execution. A separate OCC order requires a remediation plan, customer-risk reviews and testing. The Federal Reserve also ordered changes to enterprise controls at the parent company.
American Express said part of the penalty was reserved in prior periods. It said the orders impose no asset cap and do not change its 2026 guidance.
