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OCC Assesses $350 Million Civil Money Penalty Against American Express
Source: Office of the Comptroller of the Currency
Regulation & LegislationBanking & LiquidityLegal & Litigation
The OCC issued a cease-and-desist order and imposed a $350 million civil money penalty on American Express National Bank in Sandy, Utah. The action cites deficiencies in that bank's Bank Secrecy Act and anti-money laundering compliance program.
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