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American multinational financial services corporation
American Express Company (Amex) is an American bank holding company and multinational financial services corporation that specializes in payment cards. It is headquartered at 200 Vesey Street, also known as American Express Tower, in the Battery Park City neighborhood of Lower Manhattan; in 2026, the company announced that it would develop and be the sole occupant of the new 2 World Trade Center skyscraper in the nearby World Trade Center complex.
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Regulators fined American Express (AXP) with a $350 million penalty Thursday over widespread failures in its anti-money laundering controls that left approximately $13 billion in suspected money laundering activity inadequately monitored and reported over nearly 11 years.
American Express National Bank faces a $350 million OCC fine over anti-money laundering failures involving $13B in suspicious transactions.
American Express just agreed to a nine-figure penalty over a decade-long compliance failure, but the market's muted reaction tells a more complicated story about what the settlement actually costs the company and its shareholders.