This isn’t good, American Express stock falls after OCC fines bank $350M
Landon Capital News
American Express (NYSE: AXP) shares fell almost 2% in after-hours trading Thursday after the Office of the Comptroller of the Currency imposed a $350 million penalty on the company for compliance failures that led it to miss about $13 billions of suspected money laundering activity from 2014 to 2025.
The OCC said American Express’s U.S. national bank subsidiary had systemic deficiencies in its anti-money laundering program, including insufficient staff expertise and training, internal control gaps and independent testing weaknesses. The bank neither admitted nor denied the findings.
Comptroller of the Currency Jonathan Gould said American Express failed to maintain a compliance program properly aligned with the money laundering risks of its operations. This resulted in the bank’s failures to timely identify and report significant missed suspicious activity and to provide important information to law enforcement, he said.
About Landon Capital
Landon Capital Inc. is a media company that wholly owns subsidiaries Landon Capital Management LLC and Landon Capital News. Landon Capital News distributes economic, and political news in over 176 countries. Landon Capital News provides an in depth and simplistic look at financial, economic, and political news, as it is happening. We also provide our viewers with in-depth analysis on various companies and political news that directly correlate to economics. We bridge the gap of information between the investor and the markets, sectors and industries that they invest. For more information, please contact us at info@landoncapital.net or 404-995-6671 or visit https://landoncapital.net.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Landon Capital received no direct compensation related to this release. This release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Actual results may differ materially from those stated or implied in.
