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FED CRACKS DOWN ON AMERICAN EXPRESS OVER MONEY LAUNDERING BLIND SPOTS
Business

FED CRACKS DOWN ON AMERICAN EXPRESS OVER MONEY LAUNDERING BLIND SPOTS

The Federal Reserve Board announced an enforcement action against American Express, citing the firm's failure to adequately detect and report suspicious activity tied to money laundering. The move raises fresh questions about whether the financial giant treated anti-money-laundering rules as a box to check.

Gary Franchi•1 day ago · Nov 9, 4:49 AM ET