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New York State Banking Department Announces Written Agreement With American Express Bank, LTD.

New York, NY: The New York State Banking Department today announced the execution of a Written Agreement with American Express Bank Ltd., New York, NY, effective immediately. The Written Agreement addresses deficiencies in compliance with applicable federal and state laws, rules and regulations relating to anti-money laundering (AML) policies, procedures, and practices, including the Bank Secrecy Act (BSA).

Under the Written Agreement, American Express Bank Ltd. is required to take immediate action to correct violations and take all necessary steps to establish and adopt policies, procedures, and processes that address internal controls, independent testing, compliance staffing and training.

A copy of the Written Agreement is attached.

TheNew York State Banking Department is the regulator for all state-chartered banking institutions, nearly all of the United States offices of international banking institutions, all of the State’s mortgage brokers, mortgage bankers, check cashers, money transmitters and budget planners.  The aggregate assets of the depository institutions supervised by the Banking Department are more than $1.8 trillion.

In addition to regulating banking institutions, the Banking Department is active in informing and educating all New Yorkers on banking matters.  To contact the Banking Department, please call 1-877-BANK-NYS or visit our Web site at

Department of Financial Services


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