American Express National Bank to pay $350 million OCC penalty over financial crimes compliance
The bank and its parent also consent to a separate Federal Reserve order, closing reviews of their financial crimes compliance program
Published
Chart: AXP, one-minute prices, three sessions
American Express National Bank has agreed to pay a civil money penalty of $350 million to the Office of the Comptroller of the Currency. American Express and American Express Travel Related Services Company separately consented to an order from the Federal Reserve. Both orders resolve previously disclosed reviews of the company's financial crimes compliance program.
American Express said part of the penalty was already reserved for in prior periods, which limits the hit to current earnings. The company said the orders do not impose an asset cap on its business, do not affect its previously issued full-year 2026 guidance, and are not expected to affect 2027 guidance.
The settlement closes a compliance overhang that had followed American Express since the reviews were first disclosed. The lack of an asset cap removes a form of tail risk that has constrained growth at other banks under similar orders. Management's decision to reaffirm 2026 guidance, with no anticipated effect on 2027, signals that the company considers the matter resolved rather than ongoing. The case concerns financial crimes compliance rather than capital adequacy, setting it apart from the separate debate over bank capital and stress tests, and from the current discussion around the path of interest rates.