American Express Centurion Bank and American Express Bank, FSB

2017 Community Banks / Credit Unions

CFPB Consumer Financial Violation

Penalty

$95 million

Outcome

American Express Centurion Bank and American Express Bank, FSB was subject to a $95,000,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Details

American Express Centurion Bank and American Express Bank, FSB — $95,000,000 CFPB Enforcement

Outcome: American Express Centurion Bank and American Express Bank, FSB was subject to a $95,000,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Action Type: enforcement-action

How Crucible Prevents This

Crucible's continuous compliance monitoring would have flagged the regulatory gaps that led to this CFPB enforcement action — through automated regulatory adherence checks, BSA/AML monitoring, consumer protection compliance tracking, and corrective action plan enforcement — preventing the violations before they triggered federal action.

Source: CFPB Enforcement Actions — American Express Centurion Bank and American Express Bank, FSB

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