What was announced
The Federal Reserve Board announced an enforcement action against American Express Company on 8 October at 4:30 p.m. Eastern Time. The Board said the action addressed, among other matters, failures to adequately detect and report certain suspicious activity connected with money laundering.
Scope and limits
The release also identifies significant shortcomings in implementation of the company’s enterprise-wide anti-money laundering programme, particularly at its subsidiary national bank. It notes a separate action by the Office of the Comptroller of the Currency, the bank’s primary federal regulator. The announcement concerns deficiencies in controls; it does not establish that every customer transaction was improper or that all merchant services have been suspended.
What it means for merchants
For merchants, documented operational evidence matters as much as a completed onboarding checklist. Keep business activity, ownership details and transaction explanations current, and respond accurately to provider requests. If scrutiny affects your account, ask which information is required and what contractual restrictions apply. This action is a reminder to maintain effective monitoring and escalation, not a basis for predicting termination or freezing funds at an unrelated provider.
Read the original announcement
Federal Reserve Board · 8 Oct 2026This brief summarizes the linked primary source. Claims and reported figures have not been independently audited by Payment Guide.