American Express National Bank must pay a $350 million penalty and comply with enforcement orders after the Office of the Comptroller of the Currency found systemic anti-money-laundering failures spanning nearly 11 years. The OCC said the bank inadequately monitored and reported approximately $13 billion in suspected money laundering activity between June 2014 and May 2025, including suspicious credit- and charge-card transactions and repayments. Some activity involved accounts associated with bank insiders, although the OCC did not identify the individuals or their roles. The regulator cited deficiencies in transaction monitoring, customer identification, staffing, employee training, internal audits and risk assessments that focused too heavily on deposit-taking while underestimating risks from the bank's larger card businesses. The Federal Reserve separately issued a cease-and-desist order against American Express. American Express said it had identified weaknesses through internal and external reviews, investigated suspected misuse of its products and reported information to law enforcement. The company said part of the penalty had been reserved in prior periods and would not affect its full-year 2026 guidance or its 2027 guidance. Its shares fell 2% in extended trading and were down more than 16% since the start of the year.