American Express pays $350 mln penalty over anti-money-laundering lapses
American Express says the consent orders carry no asset cap and will not change its 2026 or 2027 guidance
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The Federal Reserve has brought a money-laundering enforcement action against American Express, and the Office of the Comptroller of the Currency has assessed a $350 mln civil penalty against American Express National Bank. Regulators found the bank failed to maintain adequate Bank Secrecy Act and anti-money-laundering compliance programs.
American Express said the penalty does not affect its fiscal 2026 guidance. The company said the consent orders carry no asset cap and that costs tied to the orders are not expected to affect its 2027 guidance either.
An asset cap is the usual remedy regulators reach for in these cases, limiting how much a bank can grow its balance sheet until compliance improves. That did not happen here, which limits the downside from this action. Part of the $350 mln penalty was already set aside before the orders were announced, so the additional hit to earnings is limited. With no cap on growth and guidance unchanged, the matter closes as a resolved compliance issue rather than an ongoing restraint on the bank's lending or card business.